BODARWE
ActiveSummary
BODARWE has been active since 1985 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €5.3m and a net result of €421,563. Equity is growing by ~5.3% per year across the filed fiscal years. Its solvency ranks better than 25% of 334 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.7% (low).
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Signals
This company filed its last 6 accounts on average 28 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 40% of the sector filed late.
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History
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Financials · fiscal year 2024, full schema
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 42, Civil engineering, each year against the same schema; no band under 30 filings. Dashed line: the median.
Peer companies
Historical observationOf the 719 companies that looked in July 2024 the way this one looks now, 0.8% went bankrupt within 24 months and 97% are still going.
- Medium-sized
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 719 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.
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | €28.8m | €34.5m | €35.3m | €38.4m | ▲ 8.7% |
| Turnover70 | €24.0m | €24.9m | €31.7m | €30.8m | €34.4m | ▲ 11.9% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | - | €1.3m | -€922,435 | €520,927 | €644,042 | ▲ 23.6% |
| Other operating income74 | - | €2.7m | €3.8m | €4.0m | €3.3m | ▼ 17.7% |
| Operating charges60/66A | - | €28.5m | €33.8m | €34.5m | €37.5m | ▲ 8.4% |
| Goods for resale, raw materials and consumables60 | - | €14.0m | €17.5m | €17.6m | €19.6m | ▲ 11.5% |
| Purchases600/8 | - | €14.0m | €17.5m | €17.6m | €19.6m | ▲ 11.1% |
| Change in stocks: decrease (increase)609 | - | €30,587 | -€10,867 | €1,385 | €69,700 | ▲ 4,934% |
| Services and other goods61 | - | €3.8m | €4.9m | €4.8m | €4.8m | ▲ 0.8% |
| Remuneration, social security and pensions62 | - | €9.0m | €9.7m | €10.5m | €11.3m | ▲ 7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1.6m | €1.6m | €1.5m | €1.4m | €1.4m | ▼ 0.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | -€7,693 | - | - | - | - |
| Other operating charges640/8 | - | €172,685 | €181,611 | €245,644 | €356,610 | ▲ 45.2% |
| Operating profit (loss)9901 | €280,245 | €301,973 | €783,696 | €740,323 | €895,267 | ▲ 20.9% |
| Financial income75/76B | - | €15,478 | €18,304 | €46,878 | €57,806 | ▲ 23.3% |
| Recurring financial income75 | €25,408 | €15,478 | €18,304 | €46,878 | €57,806 | ▲ 23.3% |
| Income from current assets751 | - | - | - | - | €884 | - |
| Other financial income752/9 | - | €15,478 | €18,304 | €46,878 | €56,921 | ▲ 21.4% |
| Financial charges65/66B | - | €198,936 | €195,982 | €327,136 | €342,669 | ▲ 4.7% |
| Recurring financial charges65 | €176,659 | €198,936 | €195,982 | €327,136 | €342,669 | ▲ 4.7% |
| Debt charges650 | €148,355 | €133,451 | €151,065 | €286,365 | €302,488 | ▲ 5.6% |
| Other financial charges652/9 | - | €65,486 | €44,918 | €40,771 | €40,181 | ▼ 1.4% |
| Profit (loss) for the period before taxes9903 | €128,730 | €118,515 | €606,018 | €460,065 | €610,404 | ▲ 32.7% |
| Income taxes67/77 | €69,099 | €74,449 | €202,796 | €156,968 | €188,840 | ▲ 20.3% |
| Taxes670/3 | - | €74,449 | €202,796 | €156,968 | €188,840 | ▲ 20.3% |
| Profit (loss) for the period9904 | €59,632 | €44,066 | €403,222 | €303,097 | €421,563 | ▲ 39.1% |
| Profit (loss) for the period to be appropriated9905 | €59,632 | €44,066 | €403,222 | €303,097 | €421,563 | ▲ 39.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €20.4m | €20.6m | €22.1m | €21.9m | €24.3m | ▲ 11.1% |
| Fixed assets21/28 | €5.7m | €5.5m | €5.3m | €5.7m | €6.0m | ▲ 5.1% |
| Intangible fixed assets21 | €114,548 | €76,221 | €43,088 | €18,813 | €10,456 | ▼ 44.4% |
| Tangible fixed assets22/27 | €5.1m | €5.0m | €4.8m | €5.3m | €5.6m | ▲ 5.4% |
| Land and buildings22 | - | €2.2m | €2.0m | €1.8m | €1.6m | ▼ 10.1% |
| Plant, machinery and equipment23 | - | €494,861 | €398,726 | €454,393 | €366,624 | ▼ 19.3% |
| Furniture and vehicles24 | - | €421,949 | €339,874 | €339,852 | €262,432 | ▼ 22.8% |
| Leasing and similar rights25 | - | €1.9m | €2.1m | €2.6m | €3.3m | ▲ 26.4% |
| Assets under construction and advance payments27 | - | - | €26,086 | €64,345 | - | - |
| Financial fixed assets28 | €464,963 | €465,111 | €409,658 | €367,023 | €377,638 | ▲ 2.9% |
| Other financial fixed assets284/8 | - | €465,111 | €409,658 | €367,023 | €377,638 | ▲ 2.9% |
| Shares284 | - | €10,310 | €10,310 | €10,310 | €10,310 | = |
| Amounts receivable and cash guarantees285/8 | - | €454,801 | €399,348 | €356,713 | €367,328 | ▲ 3.0% |
| Current assets29/58 | €14.8m | €15.1m | €16.8m | €16.2m | €18.3m | ▲ 13.2% |
| Stocks and contracts in progress3 | €367,415 | €4.4m | €3.4m | €4.0m | €4.5m | ▲ 14.5% |
| Stocks30/36 | - | €457,117 | €567,475 | €555,718 | €411,806 | ▼ 25.9% |
| Raw materials and consumables30/31 | - | €155,885 | €166,752 | €165,368 | €95,667 | ▼ 42.1% |
| Finished goods33 | - | €301,232 | €400,723 | €390,350 | €316,139 | ▼ 19.0% |
| Contracts in progress37 | - | €3.9m | €2.9m | €3.4m | €4.1m | ▲ 21.1% |
| Amounts receivable within one year40/41 | €10.3m | €9.6m | €11.2m | €10.5m | €11.8m | ▲ 13.2% |
| Trade receivables40 | - | €8.5m | €10.5m | €9.5m | €10.4m | ▲ 9.1% |
| Other amounts receivable41 | - | €1.1m | €689,306 | €963,304 | €1.5m | ▲ 53.6% |
| Cash at bank and in hand54/58 | €1.3m | €1.1m | €2.1m | €1.7m | €2.0m | ▲ 12.3% |
| Deferred charges and accrued income490/1 | - | €25,500 | €34,023 | €28,930 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €20.4m | €20.6m | €22.1m | €21.9m | €24.3m | ▲ 11.1% |
| Equity10/15 | €4.1m | €4.1m | €4.5m | €4.8m | €5.3m | ▲ 8.6% |
| Contributions10/11 | €1.4m | €1.4m | €1.4m | €1.4m | €1.4m | = |
| Capital10 | - | €1.4m | €1.4m | €1.4m | €1.4m | = |
| Issued capital100 | - | €1.4m | €1.4m | €1.4m | €1.4m | = |
| Reserves13 | €692,810 | €692,810 | €692,810 | €692,810 | €692,810 | = |
| Non-distributable reserves130/1 | - | €141,000 | €141,000 | €141,000 | €141,000 | = |
| Legal reserve130 | - | €136,000 | €136,000 | €136,000 | €136,000 | = |
| Other1319 | - | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Tax-exempt reserves132 | - | €151,810 | €151,810 | €151,810 | €151,810 | = |
| Distributable reserves133 | - | €400,000 | €400,000 | €400,000 | €400,000 | = |
| Profit (loss) carried forward14 | €2.0m | €2.1m | €2.5m | €2.8m | €3.2m | ▲ 15.3% |
| Investment grants15 | - | €40,519 | €35,269 | €30,019 | €24,769 | ▼ 17.5% |
| Amounts payable17/49 | €16.3m | €16.4m | €17.5m | €17.0m | €19.1m | ▲ 11.8% |
| Amounts payable after more than one year17 | €4.1m | €3.9m | €3.4m | €3.6m | €3.6m | ▼ 1.2% |
| Financial debts170/4 | - | €3.9m | €3.4m | €3.6m | €3.6m | ▼ 1.2% |
| Leasing and similar obligations172 | - | €1.3m | €1.5m | €1.9m | €2.3m | ▲ 21.9% |
| Credit institutions173 | - | €2.6m | €2.0m | €1.7m | €1.2m | ▼ 27.0% |
| Amounts payable within one year42/48 | €12.2m | €12.6m | €14.1m | €13.3m | €15.5m | ▲ 16.2% |
| Current portion of amounts payable after more than one year42 | - | €1.8m | €1.5m | €1.5m | €1.6m | ▲ 6.3% |
| Financial debts43 | - | €4.1m | €4.4m | €4.4m | €5.2m | ▲ 18.8% |
| Credit institutions430/8 | - | €4.1m | €4.4m | €4.4m | €5.2m | ▲ 18.8% |
| Trade debts44 | €3.3m | €4.4m | €6.2m | €5.9m | €7.1m | ▲ 20.3% |
| Suppliers440/4 | - | €4.4m | €6.2m | €5.9m | €7.1m | ▲ 20.3% |
| Advances received on contracts in progress46 | - | €1.0m | - | - | - | - |
| Taxes, remuneration and social security45 | - | €744,676 | €1.1m | €860,529 | €760,830 | ▼ 11.6% |
| Taxes450/3 | - | €200,006 | €285,641 | €262,340 | €130,742 | ▼ 50.2% |
| Remuneration and social security454/9 | - | €544,670 | €831,293 | €598,189 | €630,088 | ▲ 5.3% |
| Other amounts payable47/48 | - | €564,033 | €843,388 | €711,671 | €862,708 | ▲ 21.2% |
| Accrued charges and deferred income492/3 | - | €18,007 | €61,193 | €132,323 | €27,393 | ▼ 79.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €59,632 | €44,066 | €403,222 | €303,097 | €421,563 | ▲ 39.1% |
| + Depreciation and write-downs630 | €1.6m | €1.6m | €1.5m | €1.4m | €1.4m | ▼ 0.3% |
| Operating cash flow (approximation) | €1.7m | €1.6m | €1.9m | €1.7m | €1.8m | ▲ 6.7% |
| Investment in fixed assets (approximation) | - | -€1.4m | -€1.2m | -€1.8m | -€1.7m | ▲ 6.2% |
| Change in cash | - | -€259,690 | €1.0m | -€358,881 | €214,056 | ▲ 160% |
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
20-07
State Gazette act
Reappointment: AXYLIUM AUDIT SRL (statutory auditor)Appointments: ETOR (director) and SB GEST SRL (managing director)6 facts ▸
- General meeting, 19-06-2026
- General meeting, 01-07-2026
- Auditor reappointment, AXYLIUM AUDIT SRL (statutory auditor)
- Director appointment, ETOR (director)
- Board meeting, 01-07-2026
- Director appointment, SB GEST SRL (managing director)
About the unread acts
Of the 14 Belgian State Gazette acts we know for this company, 1 has been read. The other 13 have not been read yet: what they contain is neither established nor disproved here.
Directors · office · real estate
Board 1
Day-to-day management 1
Permanent representatives 2
Statutory auditor 1
Not every act has been read: a resignation may be missing here
4 establishment units
1 parcel
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63049F0275/00V004 | Wallonia | 6,876 m² | 1 · 1,112 m² | 11.2 m · 3 fl. |
Linked by address, not proof of ownership
Mandate history
- Board
- Day-to-day management
- Statutory auditor
| Name | Functions and periods |
|---|---|
| ETOR |
|
| SB GEST SRL |
|
| AXYLIUM AUDIT SRL |
|
Articles of association
Full text
01.07.2026. Son mandat sera rémunéré et se terminera lors de l'assemblée gènérale ordinaire de l'an 2029. A l'issue de l'assemblée générale, le conseil d'administration de la société s'est réuni: •Le conseil d'administration décide à l'unanimité de nommer comme deuxième administrateur-délégué de la société à partir du 01.07.2026, la société SB GEST SRL, représentée par Stéphane BODARWE. Le mandat expire avec l'assemblée générale de l'an 2029. Les pouvoirs des administrateurs-délégués sont fixés comme suit: dans les limites de la gestion journalière, la société est valablement représentée dans tous actes et en justice par les administrateurs- délégués, qui agissent séparément Michel BODARWE administrateur-délégué
Structure & network
Owners and holdings
3 ownersChain of control
- FIBO
- BODARWE CARRIERES
- BODARWE
Highest known parent: FIBO. The sources do not say who stands above it.
Owners 3
- BODARWE CARRIERESparent53%
- Sourceaccounts Boreta 202537%
-
10%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
Recognitions · licences · registrations
Recognised contractor
20 categoriesSimilar companies · same sector, comparable size
Identification & contact
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.