BODETRANS
ActiveFinancials · financial year 2026, micro format
Annual accounts 2026 filed on 11-06-2026 PDF all 37 filings
Turnover
≈ €290,000
Estimated: probably between €250,000 and €400,000
Total assets
€394,284▼ 33.7%
2025 · €595,006
Net result
€12,201▲ 57.0%
2025 · €7,770
Working capital
€169,721▲ 150%
2025 · €67,822
Multi-year overview
2019 to 2026, 8 financial yearsOperating result
€19,505
▲ 7.4%
2026
20192026
Net result
€12,201
▲ 57.0%
2026
20192026
Equity
€34,786
▲ 43.4%
2026
20192026
Total assets
€394,284
▼ 33.7%
2026
20192026
Debt
€359,498
▼ 37.0%
2026
20192026
Working capital
€169,721
▲ 150%
2026
20192026
Solvency
8.8%
▲ 4.7pp
2026
20192026
Current ratio
4.16
▲ 2.68
2026
20192026
Return on assets (ROA)
3.1%
▲ 1.8pp
2026
20192026
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023202420252026
Operating result€15,032-€8,931▼ 40.6%€17,767▲ 98.9%-€552€52,047€10,186▼ 80.4%€18,168▲ 78.4%€19,505▲ 7.4%
Net result€14,830-€9,204▼ 37.9%€17,549within the sector's middle half▲ 90.7%-€724below the sector's middle half€51,873above the sector's middle half€3,410within the sector's middle half▼ 93.4%€7,770within the sector's middle half▲ 128%€12,201▲ 57.0%
Equity-€62,278--€53,074▲ 14.8%-€35,525below the sector's middle half▲ 33.1%-€36,250below the sector's middle half▼ 2.0%€15,623within the sector's middle half€18,199within the sector's middle half▲ 16.5%€24,251within the sector's middle half▲ 33.3%€34,786▲ 43.4%
Total assets€57,546-€50,358▼ 12.5%€63,925below the sector's middle half▲ 26.9%€62,528below the sector's middle half▼ 2.2%€283,765above the sector's middle half▲ 354%€419,377above the sector's middle half▲ 47.8%€595,006above the sector's middle half▲ 41.9%€394,284▼ 33.7%
Debt€119,824-€103,433▼ 13.7%€99,450▼ 3.9%€98,778▼ 0.7%€268,142▲ 171%€401,179▲ 49.6%€570,755▲ 42.3%€359,498▼ 37.0%
Working capital-€60,894--€51,474▲ 15.5%-€30,339below the sector's middle half▲ 41.1%-€34,365below the sector's middle half▼ 13.3%€52,504within the sector's middle half€118,136above the sector's middle half▲ 125%€67,822above the sector's middle half▼ 42.6%€169,721▲ 150%
Solvency-108.2%--105.4%▲ 2.8pp-55.6%below the sector's middle half▲ 49.8pp-58.0%below the sector's middle half▼ 2.4pp5.5%below the sector's middle half▲ 63.5pp4.3%below the sector's middle half▼ 1.2pp4.1%below the sector's middle half▼ 0.3pp8.8%▲ 4.7pp
Current ratio0.49-0.49▲ 0.010.68below the sector's middle half▲ 0.180.65below the sector's middle half▼ 0.031.53within the sector's middle half▲ 0.892.87above the sector's middle half▲ 1.341.47within the sector's middle half▼ 1.404.16▲ 2.68
Return on assets (ROA)25.8%-18.3%▼ 7.5pp27.5%above the sector's middle half▲ 9.2pp-1.2%below the sector's middle half▼ 28.6pp18.3%above the sector's middle half▲ 19.4pp0.8%within the sector's middle half▼ 17.5pp1.3%within the sector's middle half▲ 0.5pp3.1%▲ 1.8pp
above
within
below
The sector band is the middle half of the companies in Land transport and transport via pipelines (NACE 49). 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 2026 is 7% higher than in 2025. It is the second rise in a row, after the fall in 2024.
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
2026 in colour, 2025 as the grey bar beneath
Assets €394,284
Fixed assets
€170,790 ▼ 55.5%
Current assets
€223,494 ▲ 6.0%
Equity and liabilities €394,284
Equity
€34,786 ▲ 43.4%
Debt
€359,498 ▼ 37.0%
Debt's share of the balance-sheet total falls from 95.9% to 91.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€112,007▲
2025 · €96,170
Cash flow
€104,703▲
2025 · €85,772
Quick ratio
3.87▲
2025 · 1.40
Debt to equity
10.33▼
2025 · 23.54
ROE
35.1%▲
2025 · 32.0%
Interest coverage
12.49▲
2025 · 9.16
Debt ≤ 1 year
€53,773▼
2025 · €142,972
Debt > 1 year
€305,623▼
2025 · €426,135
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 30-09-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Mortgages, amount registered | - | - | - | - | €89,599 |
| Carrying value of the mortgaged assets | - | - | €134,033 | - | €89,599 |
Source: notes to the 2022 to 2026 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 30-09-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €141,605 | €155,520 | €223,855 | - |
| Financial fixed assets | - | €135 | - | €135 | €0 |
| Depreciation and write-downs of the year | - | €9,015 | €50,022 | €78,002 | €92,502 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2023 · 1 entry · €1,500 awarded · €1,500 paidAnnual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | - | €3,481 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | - | €9,015 | €50,022 | €78,002 | €92,502 | ▲ 18.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | - | - | €426 | - |
| Other operating charges640/8 | - | - | - | €579 | €768 | €641 | €2,778 | €2,559 | ▼ 7.9% |
| Gross operating margin9900 | €16,211 | €9,935 | €18,860 | €27 | €61,830 | €60,849 | €98,948 | €114,992 | ▲ 16.2% |
| Operating profit (loss)9901 | €15,032 | €8,931 | €17,767 | -€552 | €52,047 | €10,186 | €18,168 | €19,505 | ▲ 7.4% |
| Financial income75/76B | - | - | - | €43 | €0 | €28 | €96 | €1,661 | ▲ 17× |
| Recurring financial income75 | - | €479 | €0 | €43 | €0 | €28 | €96 | €1,661 | ▲ 17× |
| Financial charges65/66B | - | - | - | €215 | €174 | €6,804 | €10,494 | €8,965 | ▼ 14.6% |
| Recurring financial charges65 | €202 | €206 | €218 | €215 | €174 | €6,804 | €10,494 | €8,965 | ▼ 14.6% |
| Profit (loss) for the period before taxes9903 | €14,830 | €9,204 | €17,549 | -€724 | €51,873 | €3,410 | €7,770 | €12,201 | ▲ 57.0% |
| Profit (loss) for the period9904 | €14,830 | €9,204 | €17,549 | -€724 | €51,873 | €3,410 | €7,770 | €12,201 | ▲ 57.0% |
| Profit (loss) for the period to be appropriated9905 | €14,830 | €9,204 | €17,549 | -€724 | €51,873 | €3,410 | €7,770 | €12,201 | ▲ 57.0% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €57,546 | €50,358 | €63,925 | €62,528 | €283,765 | €419,377 | €595,006 | €394,284 | ▼ 33.7% |
| Fixed assets21/28 | €50 | €50 | €50 | €50 | €132,725 | €238,224 | €384,212 | €170,790 | ▼ 55.5% |
| Tangible fixed assets22/27 | - | - | - | - | €132,590 | €238,089 | €383,942 | €170,520 | ▼ 55.6% |
| Furniture and vehicles24 | - | - | - | - | €132,590 | €104,055 | €119,526 | €80,921 | ▼ 32.3% |
| Leasing and similar rights25 | - | - | - | - | - | €134,033 | €264,417 | €89,599 | ▼ 66.1% |
| Financial fixed assets28 | €50 | €50 | €50 | €50 | €135 | €135 | €270 | €270 | = |
| Current assets29/58 | €57,496 | €50,309 | €63,875 | €62,479 | €151,040 | €181,154 | €210,794 | €223,494 | ▲ 6.0% |
| Stocks and contracts in progress3 | - | - | - | - | - | €3,047 | €11,079 | €15,378 | ▲ 38.8% |
| Stocks30/36 | - | - | - | - | - | €3,047 | €11,079 | €15,378 | ▲ 38.8% |
| Amounts receivable within one year40/41 | €46,696 | €40,082 | €30,250 | €28,860 | €88,896 | €72,477 | €96,059 | €45,380 | ▼ 52.8% |
| Trade receivables40 | - | - | - | €27,538 | €70,356 | €59,025 | €96,041 | €45,260 | ▼ 52.9% |
| Other amounts receivable41 | - | - | - | €1,322 | €18,540 | €13,452 | €18 | €120 | ▲ 569% |
| Current investments50/53 | - | - | €9,000 | €9,000 | - | - | - | €105,000 | - |
| Cash at bank and in hand54/58 | €10,152 | €9,518 | €23,905 | €23,737 | €59,821 | €94,410 | €87,364 | €42,029 | ▼ 51.9% |
| Deferred charges and accrued income490/1 | - | - | - | €881 | €2,323 | €11,219 | €16,292 | €15,706 | ▼ 3.6% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €57,546 | €50,358 | €63,925 | €62,528 | €283,765 | €419,377 | €595,006 | €394,284 | ▼ 33.7% |
| Equity10/15 | -€62,278 | -€53,074 | -€35,525 | -€36,250 | €15,623 | €18,199 | €24,251 | €34,786 | ▲ 43.4% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | - | - | - | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | - | - | - | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Profit (loss) carried forward14 | -€124,278 | -€115,074 | -€97,525 | -€98,250 | -€46,377 | -€43,801 | -€37,749 | -€27,214 | ▲ 27.9% |
| Amounts payable17/49 | €119,824 | €103,433 | €99,450 | €98,778 | €268,142 | €401,179 | €570,755 | €359,498 | ▼ 37.0% |
| Amounts payable after more than one year17 | - | - | - | - | €169,400 | €338,017 | €426,135 | €305,623 | ▼ 28.3% |
| Financial debts170/4 | - | - | - | - | - | €93,549 | €181,668 | €30,705 | ▼ 83.1% |
| Other amounts payable178/9 | - | - | - | - | €169,400 | €244,468 | €244,468 | €274,918 | ▲ 12.5% |
| Amounts payable within one year42/48 | €118,390 | €101,782 | €94,215 | €96,843 | €98,536 | €63,018 | €142,972 | €53,773 | ▼ 62.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | €29,407 | €63,515 | €32,113 | ▼ 49.4% |
| Trade debts44 | €32,585 | €15,977 | €11,427 | €14,056 | €15,748 | €31,585 | €69,589 | €19,651 | ▼ 71.8% |
| Suppliers440/4 | - | - | - | €14,056 | €15,748 | €31,585 | €69,589 | €19,651 | ▼ 71.8% |
| Taxes, remuneration and social security45 | - | - | - | - | - | €1,191 | €8,150 | €343 | ▼ 95.8% |
| Taxes450/3 | - | - | - | - | - | €1,191 | €8,150 | €343 | ▼ 95.8% |
| Other amounts payable47/48 | - | - | - | €82,787 | €82,787 | €835 | €1,718 | €1,666 | ▼ 3.0% |
| Accrued charges and deferred income492/3 | - | - | - | €1,935 | €206 | €144 | €1,648 | €102 | ▼ 93.8% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €14,830 | €9,204 | €17,549 | -€724 | €51,873 | €3,410 | €7,770 | €12,201 | ▲ 57.0% |
| + Depreciation and write-downs630 | - | - | - | - | €9,015 | €50,022 | €78,002 | €92,502 | ▲ 18.6% |
| Operating cash flow (approximation) | €14,830 | €9,204 | €17,549 | -€724 | €60,888 | €53,432 | €85,772 | €104,703 | ▲ 22.1% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | -€141,690 | -€155,520 | -€223,990 | €120,921 | - |
| Change in cash | - | -€634 | €14,386 | -€168 | €36,084 | €34,590 | -€7,046 | -€45,334 | ▼ 543% |
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, 1,083 companies had the same profile as BODETRANS has now. Two years later, 96.8% were still going and 0.8% had gone bankrupt.
- Micro
- 20 years or older
- solvency under 10%
- a profit under 5% of the balance sheet
96.8%
was still going
2.2%
stopped otherwise
0.8%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of BODETRANS itself: 0.4% 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 1,083 companies, not a prediction for BODETRANS. 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 37 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | micro format | 11-06-2026 | 2026-00161885 | |
| 31-03-2025 | micro format | 08-07-2025 | 2025-00275920 | |
| 31-03-2024 | micro format | 26-09-2024 | 2024-00481496 | |
| 31-03-2023 | micro format | 05-10-2023 | 2023-00475314 | |
| 30-09-2022 | abbreviated format | 13-02-2023 | 2023-00026616 | |
| 30-09-2021 | abbreviated format | 15-02-2022 | 2022-05500594 | |
| 30-09-2020 | abbreviated format | 18-02-2021 | 2021-05700023 | |
| 30-09-2019 | abbreviated format | 13-02-2020 | 2020-04900200 | |
| 30-09-2018 | abbreviated format | 28-02-2019 | 2019-05900067 | |
| 30-09-2017 | abbreviated format | 20-02-2018 | 2018-05100320 |