BMS ELECTRO
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 30-01-2026 PDF all 6 filings
Turnover
≈ €700,000
Estimated: probably between €580,000 and €880,000
Total assets
€814,399▲ 9.1%
2024 · €746,429
Net result
€23,616▼ 6.1%
2024 · €25,156
Working capital
€60,756▲ 7.1%
2024 · €56,730
Multi-year overview
2020 to 2025, 6 financial yearsOperating result
€53,553
▼ 2.5%
2025
20202025
Net result
€23,616
▼ 6.1%
2025
middle half of the sector
20202025
Equity
€191,093
▲ 14.1%
2025
middle half of the sector
20202025
Total assets
€814,399
▲ 9.1%
2025
middle half of the sector
20202025
Debt
€623,306
▲ 7.7%
2025
20202025
Working capital
€60,756
▲ 7.1%
2025
middle half of the sector
20202025
Solvency
23.5%
▲ 1.0pp
2025
lowest quarter of the sector
20202025
Current ratio
1.18
▼ 0.05
2025
middle half of the sector
20202025
Return on assets (ROA)
2.9%
▼ 0.5pp
2025
middle half of the sector
20202025
Staff (FTE)
2.8
▲ 27.3%
2025
middle half of the sector
20202025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Operating result€19,716-€24,095▲ 22.2%€32,924▲ 36.6%€109,746▲ 233%€54,917▼ 50.0%€53,553▼ 2.5%
Net result€15,692within the sector's middle half-€18,350within the sector's middle half▲ 16.9%€25,547within the sector's middle half▲ 39.2%€59,647above the sector's middle half▲ 133%€25,156within the sector's middle half▼ 57.8%€23,616within the sector's middle half▼ 6.1%
Equity€38,777within the sector's middle half-€57,127within the sector's middle half▲ 47.3%€82,674within the sector's middle half▲ 44.7%€142,321above the sector's middle half▲ 72.1%€167,477above the sector's middle half▲ 17.7%€191,093within the sector's middle half▲ 14.1%
Total assets€183,063within the sector's middle half-€402,681above the sector's middle half▲ 120%€468,237above the sector's middle half▲ 16.3%€539,487above the sector's middle half▲ 15.2%€746,429above the sector's middle half▲ 38.4%€814,399within the sector's middle half▲ 9.1%
Debt€144,285-€345,554▲ 139%€385,563▲ 11.6%€397,166▲ 3.0%€578,952▲ 45.8%€623,306▲ 7.7%
Working capital€13,435within the sector's middle half--€20,565below the sector's middle half€6,897within the sector's middle half€66,669within the sector's middle half▲ 867%€56,730within the sector's middle half▼ 14.9%€60,756within the sector's middle half▲ 7.1%
Solvency21.2%within the sector's middle half-14.2%below the sector's middle half▼ 7.0pp17.7%below the sector's middle half▲ 3.5pp26.4%within the sector's middle half▲ 8.7pp22.4%below the sector's middle half▼ 3.9pp23.5%below the sector's middle half▲ 1.0pp
Current ratio1.13within the sector's middle half-0.85below the sector's middle half▼ 0.281.04below the sector's middle half▲ 0.191.31within the sector's middle half▲ 0.271.23within the sector's middle half▼ 0.081.18within the sector's middle half▼ 0.05
Return on assets (ROA)8.6%within the sector's middle half-4.6%within the sector's middle half▼ 4.0pp5.5%within the sector's middle half▲ 0.9pp11.1%within the sector's middle half▲ 5.6pp3.4%within the sector's middle half▼ 7.7pp2.9%within the sector's middle half▼ 0.5pp
Staff (FTE)12.2▲ 120%3▲ 36.4%2.2▼ 26.7%2.8within the sector's middle half▲ 27.3%
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). 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 operating result for 2025 is 2% lower than in 2024 and the lowest since 2022. It is the second fall in a row.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €814,399
Fixed assets
€422,781 ▼ 5.4%
Current assets
€391,618 ▲ 30.7%
Equity and liabilities €814,399
Equity
€191,093 ▲ 14.1%
Debt
€623,306 ▲ 7.7%
Debt's share of the balance-sheet total falls from 77.6% to 76.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€102,550▼
2024 · €130,920
Cash flow
€72,613▼
2024 · €101,160
Quick ratio
1.11▼
2024 · 1.14
Debt to equity
3.26▼
2024 · 3.46
ROE
12.4%▼
2024 · 15.0%
Interest coverage
6.36▼
2024 · 8.13
Debt ≤ 1 year
€330,862▲
2024 · €242,854
Debt > 1 year
€292,444▼
2024 · €336,097
Income taxes
€14,790▲
2024 · €14,007
Staff costs
€159,247▲
2024 · €105,953
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 3 | 3 | 2 | 3 |
| full-time | 3 | 3 | 1 | 2 |
| part-time | - | - | 1 | 1 |
| in full-time equivalents | 3 | 3 | 1.8 | 2.8 |
| Average over the year, in full-time equivalents | 2.2 | 3 | 2.2 | 2.5 |
| On a permanent contract | 3 | 3 | 2 | 3 |
| Joined | 2 | 1 | 0 | 1 |
| Left | 0 | 1 | 1 | 0 |
| Training hours | 60 | 60 | 30 | 50 |
Source: social balance sheet in the 2022 to 2025 annual accounts
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €46,717 | €13,034 | €263,802 | €24,934 |
| Depreciation and write-downs of the year | €40,035 | €41,457 | €76,003 | €48,997 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €8,843 | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | €124,347 | €140,021 | €105,953 | €159,247 | ▲ 50.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,805 | €33,114 | €40,035 | €41,457 | €76,003 | €48,997 | ▼ 35.5% |
| Other operating charges640/8 | - | - | €1,818 | €2,796 | €1,928 | €4,667 | ▲ 142% |
| Gross operating margin9900 | €31,328 | €102,122 | €199,124 | €294,021 | €238,801 | €266,464 | ▲ 11.6% |
| Operating profit (loss)9901 | €19,716 | €24,095 | €32,924 | €109,746 | €54,917 | €53,553 | ▼ 2.5% |
| Financial income75/76B | - | - | €1,303 | €1,208 | €346 | €973 | ▲ 181% |
| Recurring financial income75 | €2,394 | €331 | €1,303 | €1,208 | €346 | €973 | ▲ 181% |
| Financial charges65/66B | - | - | €4,676 | €18,824 | €16,099 | €16,119 | ▲ 0.1% |
| Recurring financial charges65 | €771 | €4,061 | €4,676 | €18,824 | €16,099 | €16,119 | ▲ 0.1% |
| Profit (loss) for the period before taxes9903 | €21,339 | €20,365 | €29,550 | €92,131 | €39,164 | €38,406 | ▼ 1.9% |
| Income taxes67/77 | €5,647 | €2,015 | €4,004 | €32,483 | €14,007 | €14,790 | ▲ 5.6% |
| Profit (loss) for the period9904 | €15,692 | €18,350 | €25,547 | €59,647 | €25,156 | €23,616 | ▼ 6.1% |
| Profit (loss) for the period to be appropriated9905 | €15,692 | €18,350 | €25,547 | €59,647 | €25,156 | €23,616 | ▼ 6.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €183,063 | €402,681 | €468,237 | €539,487 | €746,429 | €814,399 | ▲ 9.1% |
| Fixed assets21/28 | €64,531 | €286,945 | €287,469 | €259,046 | €446,844 | €422,781 | ▼ 5.4% |
| Tangible fixed assets22/27 | €64,531 | €286,945 | €287,469 | €259,046 | €446,844 | €422,781 | ▼ 5.4% |
| Land and buildings22 | - | - | €183,892 | €178,501 | €364,850 | €374,786 | ▲ 2.7% |
| Plant, machinery and equipment23 | - | - | €7,255 | €12,606 | €9,397 | €5,281 | ▼ 43.8% |
| Furniture and vehicles24 | - | - | €8,480 | €3,071 | €3,639 | €2,424 | ▼ 33.4% |
| Leasing and similar rights25 | - | - | €87,842 | €64,868 | €68,958 | €40,290 | ▼ 41.6% |
| Current assets29/58 | €118,532 | €115,736 | €180,768 | €280,441 | €299,585 | €391,618 | ▲ 30.7% |
| Stocks and contracts in progress3 | €11,922 | €12,500 | €20,000 | €20,000 | €22,500 | €25,000 | ▲ 11.1% |
| Stocks30/36 | - | - | €20,000 | €20,000 | €22,500 | €25,000 | ▲ 11.1% |
| Amounts receivable within one year40/41 | €46,178 | €90,895 | €136,595 | €179,314 | €216,743 | €321,088 | ▲ 48.1% |
| Trade receivables40 | - | - | €110,187 | €140,764 | €201,036 | €288,715 | ▲ 43.6% |
| Other amounts receivable41 | - | - | €26,408 | €38,551 | €15,707 | €32,373 | ▲ 106% |
| Cash at bank and in hand54/58 | €60,432 | €12,341 | €24,173 | €81,127 | €60,342 | €45,530 | ▼ 24.5% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €183,063 | €402,681 | €468,237 | €539,487 | €746,429 | €814,399 | ▲ 9.1% |
| Equity10/15 | €38,777 | €57,127 | €82,674 | €142,321 | €167,477 | €191,093 | ▲ 14.1% |
| Contributions10/11 | - | - | €1,000 | €1,000 | €1,000 | €1,000 | = |
| Reserves13 | €37,777 | €56,127 | €81,674 | €141,321 | €166,477 | €190,093 | ▲ 14.2% |
| Distributable reserves133 | - | - | €81,674 | €141,321 | €166,477 | €190,093 | ▲ 14.2% |
| Amounts payable17/49 | €144,285 | €345,554 | €385,563 | €397,166 | €578,952 | €623,306 | ▲ 7.7% |
| Amounts payable after more than one year17 | €39,189 | €208,198 | €210,638 | €182,339 | €336,097 | €292,444 | ▼ 13.0% |
| Financial debts170/4 | - | - | €210,638 | €182,339 | €336,097 | €292,444 | ▼ 13.0% |
| Amounts payable within one year42/48 | €105,096 | €136,301 | €173,870 | €213,773 | €242,854 | €330,862 | ▲ 36.2% |
| Current portion of amounts payable after more than one year42 | - | - | €30,344 | €27,837 | €47,255 | €43,897 | ▼ 7.1% |
| Trade debts44 | €57,821 | €58,111 | €91,041 | €107,850 | €131,059 | €200,884 | ▲ 53.3% |
| Suppliers440/4 | - | - | €91,041 | €107,850 | €131,059 | €200,884 | ▲ 53.3% |
| Taxes, remuneration and social security45 | - | - | €11,372 | €35,335 | €19,886 | €27,665 | ▲ 39.1% |
| Taxes450/3 | - | - | €4,991 | €32,741 | €14,350 | €15,998 | ▲ 11.5% |
| Remuneration and social security454/9 | - | - | €6,381 | €2,594 | €5,536 | €11,668 | ▲ 111% |
| Other amounts payable47/48 | - | - | €41,114 | €42,750 | €44,654 | €58,415 | ▲ 30.8% |
| Accrued charges and deferred income492/3 | - | - | €1,055 | €1,055 | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €15,692 | €18,350 | €25,547 | €59,647 | €25,156 | €23,616 | ▼ 6.1% |
| + Depreciation and write-downs630 | €9,805 | €33,114 | €40,035 | €41,457 | €76,003 | €48,997 | ▼ 35.5% |
| Operating cash flow (approximation) | €25,498 | €51,464 | €65,582 | €101,104 | €101,160 | €72,613 | ▼ 28.2% |
| Investment in fixed assets (approximation) | - | -€255,528 | -€40,559 | -€13,034 | -€263,802 | -€24,934 | ▲ 90.5% |
| Change in cash | - | -€48,091 | €11,832 | €56,954 | -€20,786 | -€14,812 | ▲ 28.7% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 3,274 companies had the same profile as BMS ELECTRO has now. Two years later, 94.7% were still going and 2.5% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
94.7%
was still going
2.5%
stopped otherwise
2.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of BMS ELECTRO itself: 0.6% 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.
| 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 3,274 companies, not a prediction for BMS ELECTRO. 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.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | abbreviated format | 30-01-2026 | 2026-00021460 | |
| 30-06-2024 | micro format | 03-02-2025 | 2025-00023210 | |
| 30-06-2023 | micro format | 31-01-2024 | 2024-00015383 | |
| 30-06-2022 | micro format | 30-01-2023 | 2023-00009310 | |
| 30-06-2021 | micro format | 27-01-2022 | 2022-02200235 | |
| 30-06-2020 | micro format | 28-01-2021 | 2021-02900558 |