BOCCA
ActiveFinancials · financial year 2024, micro format
2025 annual accounts not yet filed, deadline passed on 31 July 2026 The financial year closed on 31 December 2025. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 3 November 2026.
Annual accounts 2024 filed on 11-12-2025 PDF all 22 filings
Turnover
≈ €280,000
Estimated: probably between €160,000 and €460,000
Total assets
€58,836▲ 58.1%
2023 · €37,217
Net result
€14,357
2023 · -€9,846
Working capital
-€1,716
2023 · €14,802
Multi-year overview
2018 to 2024, 7 financial yearsOperating result
€15,930
2024
20182024
Net result
€14,357
2024
middle half of the sector
20182024
Equity
€34,009
▲ 73.1%
2024
middle half of the sector
20182024
Total assets
€58,836
▲ 58.1%
2024
middle half of the sector
20182024
Debt
€24,826
▲ 41.4%
2024
20182024
Working capital
-€1,716
2024
middle half of the sector
20182024
Solvency
57.8%
▲ 5.0pp
2024
middle half of the sector
20182024
Current ratio
0.93
▼ 1.16
2024
middle half of the sector
20182024
Return on assets (ROA)
24.4%
▲ 50.9pp
2024
highest quarter of the sector
20182024
Staff (FTE)
no figure
2024
20182024
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021202220232024
Operating result€479-€593▲ 23.8%€563▼ 5.1%€2,329▲ 314%-€1,334-€9,693▼ 626%€15,930
Net result€387-€238▼ 38.5%-€821within the sector's middle half€1,570within the sector's middle half-€1,797within the sector's middle half-€9,846below the sector's middle half▼ 448%€14,357within the sector's middle half
Equity€30,308-€30,546▲ 0.8%€29,726within the sector's middle half▼ 2.7%€31,296within the sector's middle half▲ 5.3%€29,499within the sector's middle half▼ 5.7%€19,653within the sector's middle half▼ 33.4%€34,009within the sector's middle half▲ 73.1%
Total assets€39,640-€38,421▼ 3.1%€56,510below the sector's middle half▲ 47.1%€60,393below the sector's middle half▲ 6.9%€47,501below the sector's middle half▼ 21.3%€37,217below the sector's middle half▼ 21.7%€58,836within the sector's middle half▲ 58.1%
Debt€9,332-€7,875▼ 15.6%€26,785▲ 240%€29,097▲ 8.6%€18,002▼ 38.1%€17,564▼ 2.4%€24,826▲ 41.4%
Working capital€25,887-€27,711▲ 7.0%€27,830within the sector's middle half▲ 0.4%€26,135within the sector's middle half▼ 6.1%€23,300within the sector's middle half▼ 10.8%€14,802within the sector's middle half▼ 36.5%-€1,716within the sector's middle half
Solvency76.5%-79.5%▲ 3.0pp52.6%within the sector's middle half▼ 26.9pp51.8%within the sector's middle half▼ 0.8pp62.1%above the sector's middle half▲ 10.3pp52.8%within the sector's middle half▼ 9.3pp57.8%within the sector's middle half▲ 5.0pp
Current ratio3.77-4.52▲ 0.747.07above the sector's middle half▲ 2.552.64within the sector's middle half▼ 4.433.22above the sector's middle half▲ 0.572.09within the sector's middle half▼ 1.130.93within the sector's middle half▼ 1.16
Return on assets (ROA)1.0%-0.6%▼ 0.4pp-1.5%below the sector's middle half▼ 2.1pp2.6%within the sector's middle half▲ 4.1pp-3.8%below the sector's middle half▼ 6.4pp-26.5%below the sector's middle half▼ 22.7pp24.4%above the sector's middle half▲ 50.9pp
Staff (FTE)1.3
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). 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 2024 is a profit of €15,930, after a loss of €9,693 in 2023. It is the highest result since 2020.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €58,836
Fixed assets
€35,725 ▲ 306%
Current assets
€23,111 ▼ 18.6%
Equity and liabilities €58,836
Equity
€34,009 ▲ 73.1%
Debt
€24,826 ▲ 41.4%
Debt's share of the balance-sheet total falls from 47.2% to 42.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€18,222▲
2023 · -€4,805
Cash flow
€16,648▲
2023 · -€4,958
Debt to equity
0.73▼
2023 · 0.89
ROE
42.2%▲
2023 · -50.1%
Interest coverage
54.88▲
2023 · -31.42
Debt ≤ 1 year
€24,826▲
2023 · €13,604
Income taxes
€1,241
Staff costs
€8,437▼
2023 · €41,097
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2022 |
|---|---|
| Employees at the balance-sheet date | 2 |
| full-time | 1 |
| part-time | 1 |
| in full-time equivalents | 1.3 |
| Average over the year, in full-time equivalents | 1.3 |
| On a permanent contract | 2 |
Source: social balance sheet in the 2022 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Tangible fixed assets | - | €455 | - | €38,017 |
| Depreciation and write-downs of the year | €5,743 | €5,113 | €4,888 | €2,291 |
Source: notes to the 2021 to 2024 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2025 · 2 entries · €554 awarded · €417 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €347 | €210 |
| 2022 | 1 | €207 | €207 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €661 | €68 | - | €47,697 | - |
| Remuneration, social security and pensions62 | - | - | - | €33,499 | €38,330 | €41,097 | €8,437 | ▼ 79.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,586 | €1,586 | €2,244 | €5,743 | €5,113 | €4,888 | €2,291 | ▼ 53.1% |
| Other operating charges640/8 | - | - | - | €1,357 | €1,489 | €475 | €2,103 | ▲ 343% |
| Gross operating margin9900 | €20,982 | €21,206 | €23,922 | €42,927 | €43,598 | €36,766 | €28,762 | ▼ 21.8% |
| Operating profit (loss)9901 | €479 | €593 | €563 | €2,329 | -€1,334 | -€9,693 | €15,930 | - |
| Recurring financial income75 | €282 | €17 | - | - | - | - | - | - |
| Financial charges65/66B | - | - | - | €599 | €463 | €153 | €332 | ▲ 117% |
| Recurring financial charges65 | €149 | €65 | €1,384 | €599 | €463 | €153 | €332 | ▲ 117% |
| Profit (loss) for the period before taxes9903 | €612 | €545 | -€821 | €1,730 | -€1,797 | -€9,846 | €15,598 | - |
| Income taxes67/77 | €225 | €307 | - | €160 | - | - | €1,241 | - |
| Profit (loss) for the period9904 | €387 | €238 | -€821 | €1,570 | -€1,797 | -€9,846 | €14,357 | - |
| Profit (loss) for the period to be appropriated9905 | €387 | €238 | -€821 | €1,570 | -€1,797 | -€9,846 | €14,357 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €39,640 | €38,421 | €56,510 | €60,393 | €47,501 | €37,217 | €58,836 | ▲ 58.1% |
| Fixed assets21/28 | €4,421 | €2,835 | €24,098 | €18,355 | €13,698 | €8,810 | €35,725 | ▲ 306% |
| Tangible fixed assets22/27 | €4,421 | €2,835 | €24,098 | €18,355 | €13,698 | €8,810 | €35,725 | ▲ 306% |
| Plant, machinery and equipment23 | - | - | - | €280 | €396 | €282 | - | - |
| Furniture and vehicles24 | - | - | - | €18,075 | €13,301 | €8,528 | €35,725 | ▲ 319% |
| Current assets29/58 | €35,219 | €35,586 | €32,412 | €42,037 | €33,803 | €28,407 | €23,111 | ▼ 18.6% |
| Stocks and contracts in progress3 | €2,741 | €1,560 | €1,247 | €1,448 | €2,645 | €1,908 | - | - |
| Stocks30/36 | - | - | - | €1,448 | €2,645 | €1,908 | - | - |
| Amounts receivable within one year40/41 | €15,883 | €17,467 | €20,508 | €15,991 | €14,104 | €21,957 | €6,259 | ▼ 71.5% |
| Trade receivables40 | - | - | - | €4,125 | €2,067 | €10,081 | - | - |
| Other amounts receivable41 | - | - | - | €11,865 | €12,037 | €11,875 | €6,259 | ▼ 47.3% |
| Cash at bank and in hand54/58 | €11,467 | €15,162 | €9,261 | €22,062 | €15,649 | €4,542 | €16,852 | ▲ 271% |
| Deferred charges and accrued income490/1 | - | - | - | €2,537 | €1,405 | - | - | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €39,640 | €38,421 | €56,510 | €60,393 | €47,501 | €37,217 | €58,836 | ▲ 58.1% |
| Equity10/15 | €30,308 | €30,546 | €29,726 | €31,296 | €29,499 | €19,653 | €34,009 | ▲ 73.1% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €11,708 | €11,946 | €11,126 | €12,696 | €10,899 | €2,995 | €15,409 | ▲ 415% |
| Non-distributable reserves130/1 | - | - | - | €1,424 | €1,424 | €1,424 | €1,424 | = |
| Reserves not available under the articles1311 | - | - | - | €1,424 | €1,424 | €1,424 | €1,424 | = |
| Distributable reserves133 | - | - | - | €11,271 | €9,474 | €1,570 | €13,985 | ▲ 791% |
| Profit (loss) carried forward14 | - | - | - | - | - | -€1,942 | - | - |
| Amounts payable17/49 | €9,332 | €7,875 | €26,785 | €29,097 | €18,002 | €17,564 | €24,826 | ▲ 41.4% |
| Amounts payable after more than one year17 | - | - | €22,202 | €13,195 | €7,499 | €3,960 | - | - |
| Financial debts170/4 | - | - | - | €13,195 | €7,499 | €3,960 | - | - |
| Amounts payable within one year42/48 | €9,332 | €7,875 | €4,582 | €15,902 | €10,504 | €13,604 | €24,826 | ▲ 82.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €4,539 | €5,267 | €4,684 | €3,960 | ▼ 15.5% |
| Trade debts44 | €3,485 | €3,699 | €1,938 | €1,967 | €2,133 | €4,032 | €1,820 | ▼ 54.9% |
| Suppliers440/4 | - | - | - | €1,967 | €2,133 | €4,032 | €1,820 | ▼ 54.9% |
| Taxes, remuneration and social security45 | - | - | - | €811 | €157 | €4,716 | €2,183 | ▼ 53.7% |
| Taxes450/3 | - | - | - | €811 | €157 | €1,979 | €2,183 | ▲ 10.3% |
| Remuneration and social security454/9 | - | - | - | - | - | €2,738 | - | - |
| Other amounts payable47/48 | - | - | - | €8,586 | €2,947 | €172 | €16,864 | ▲ 98× |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €387 | €238 | -€821 | €1,570 | -€1,797 | -€9,846 | €14,357 | - |
| + Depreciation and write-downs630 | €1,586 | €1,586 | €2,244 | €5,743 | €5,113 | €4,888 | €2,291 | ▼ 53.1% |
| Operating cash flow (approximation) | €1,973 | €1,824 | €1,423 | €7,313 | €3,316 | -€4,958 | €16,648 | - |
| Investment in fixed assets (approximation) | - | €0 | -€23,507 | €0 | -€455 | €0 | -€29,207 | - |
| Change in cash | - | €3,695 | -€5,901 | €12,801 | -€6,413 | -€11,107 | €12,311 | - |
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, 31,368 companies had the same profile as BOCCA has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of BOCCA itself is higher: 1.4% within 12 months. It rests on far more data about BOCCA than the profile alone.
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 31,368 companies, not a prediction for BOCCA. 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 22 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | micro format | 11-12-2025 | 2025-00580050 | |
| 31-12-2023 | micro format | 07-07-2024 | 2024-00246709 | |
| 31-12-2022 | micro format | 31-08-2023 | 2023-00411693 | |
| 31-12-2021 | micro format | 21-08-2022 | 2022-20303943 | |
| 31-12-2020 | micro format | 30-09-2021 | 2021-69600482 | |
| 31-12-2019 | micro format | 23-10-2020 | 2020-63000099 | |
| 31-12-2018 | micro format | 30-08-2019 | 2019-62300253 | |
| 31-12-2017 | abbreviated format | 31-08-2018 | 2018-59900145 | |
| 31-12-2016 | abbreviated format | 26-08-2017 | 2017-49600484 | |
| 31-12-2015 | abbreviated format | 30-08-2016 | 2016-56300165 |