BOFAR
ActiveSummary
BOFAR has been active since 1984 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €4.2m and a net result of €2.1m. Equity is growing by ~25.2% per year across the filed fiscal years. Its solvency ranks better than 38% of 4909 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability81▼-12
Solvency60▲+9
Growth73▼-5
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €300,000 at 30 days acceptable
Liquidity ample (current ratio 2.99 against 1.51 in 2024; short-term debt: 32.2% and cash: 5.4% of total assets), but 65.2% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
34.8%
Return on assets
17.3%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 20-07-2026, 11 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
11 d early
2024
21 d early
2023
30 d late
2022
68 d late
2021
28 d late
2020
31 d late
2019
103 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 33 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
In the rankings
#9 company by total assets in Wingene, Wholesale and retail trade sector#10 company by equity in Wingene, Wholesale and retail trade sector
Turnover
€23.9m▲ 9.3%
2024 · €21.9m
EBIT margin
10.7%▼ 3.7pp
2024 · 14.4%
Net result
€2.1m▼ 20.0%
2024 · €2.6m
Working capital
€7.8m▲ 261%
2024 · €2.2m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€21.9m€23.9m▲ 9.3%
Operating result€1.4m▲ 17.6%€1.2m▼ 15.6%€1.2m▲ 6.5%€3.2m▲ 156%€2.6m▼ 19.0%
Net result€1.0m▲ 16.1%€938,174▼ 8.8%€1.0m▲ 6.6%€2.6m▲ 162%€2.1m▼ 20.0%
EBIT margin14.4%10.7%▼ 3.7pp
Equity€3.2m▲ 47.1%€4.2m▲ 29.2%€1.2m▼ 72.3%€1.8m▲ 53.8%€4.2m▲ 139%
Total assets€8.7m▲ 58.9%€8.7m▲ 0.5%€8.0m▼ 8.1%€6.8m▼ 15.6%€12.2m▲ 78.9%
Debt€5.5m▲ 66.7%€4.6m▼ 16.3%€6.9m▲ 49.9%€5.0m▼ 27.2%€7.9m▲ 57.9%
Working capital€3.0m▲ 45.0%€4.0m▲ 31.5%€1.0m▼ 74.2%€2.2m▲ 108%€7.8m▲ 261%
Staff (FTE)6.8▲ 1.5%8.6▲ 26.5%7.6▼ 11.6%7.6=6.3▼ 17.1%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 19% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €12.2m
Fixed assets
€440,264 ▲ 18.0%
Current assets
€11.7m ▲ 82.5%
Equity and liabilities €12.2m
Equity
€4.2m ▲ 139%
Debt
€7.9m ▲ 57.9%
Debt's share of the balance-sheet total falls from 73.9% to 65.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€2.6m▼
2024 · €3.2m
Cash flow
€2.2m▼
2024 · €2.7m
Current ratio
2.99▲
2024 · 1.51
Quick ratio
2.26▲
2024 · 1.25
Debt to equity
1.88▼
2024 · 2.84
ROE
49.6%▼
2024 · 148.0%
ROA
17.3%▼
2024 · 38.6%
Interest coverage
47.12▼
2024 · 192.81
Debt ≤ 1 year
€3.9m▼
2024 · €4.3m
Debt > 1 year
€688,352▼
2024 · €759,564
Income taxes
€706,899▲
2024 · €685,163
Staff costs
€691,493▼
2024 · €715,861
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €22.3m | €24.1m | ▲ 8.0% |
| Turnover70 | - | - | - | €21.9m | €23.9m | ▲ 9.3% |
| Own construction capitalised72 | - | - | - | - | €101,638 | - |
| Other operating income74 | - | - | - | €12,152 | €24,502 | ▲ 102% |
| Non-recurring operating income76A | - | €9,173 | €9,277 | €385,117 | €7,251 | ▼ 98.1% |
| Operating charges60/66A | - | - | - | €19.1m | €21.5m | ▲ 12.4% |
| Goods for resale, raw materials and consumables60 | - | - | - | €15.6m | €18.8m | ▲ 20.8% |
| Purchases600/8 | - | - | - | €16.4m | €20.3m | ▲ 24.2% |
| Change in stocks: decrease (increase)609 | - | - | - | -€763,925 | -€1.5m | ▼ 94.1% |
| Services and other goods61 | - | - | - | €2.2m | €1.8m | ▼ 18.3% |
| Remuneration, social security and pensions62 | €455,920 | €623,372 | €622,201 | €715,861 | €691,493 | ▼ 3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €78,619 | €85,986 | €77,842 | €66,133 | €62,245 | ▼ 5.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | -€8,982 | -€17,861 | €0 | €490,745 | €102,953 | ▼ 79.0% |
| Other operating charges640/8 | €8,507 | €52,673 | €71,015 | €46,588 | €5,138 | ▼ 89.0% |
| Gross operating margin9900 | €1.9m | €1.9m | €2.0m | - | - | - |
| Operating profit (loss)9901 | €1.4m | €1.2m | €1.2m | €3.2m | €2.6m | ▼ 19.0% |
| Financial income75/76B | €63,499 | €147,735 | €150,907 | €183,589 | €314,948 | ▲ 71.6% |
| Recurring financial income75 | €63,499 | €147,735 | €150,907 | €183,589 | €314,948 | ▲ 71.6% |
| Income from financial fixed assets750 | - | - | - | €1,358 | €0 | ▼ 100% |
| Income from current assets751 | - | - | - | €4,641 | €162,665 | ▲ 3,405% |
| Other financial income752/9 | - | - | - | €177,591 | €152,283 | ▼ 14.3% |
| Financial charges65/66B | €24,104 | €23,300 | €23,267 | €34,168 | €66,244 | ▲ 93.9% |
| Recurring financial charges65 | €24,104 | €23,300 | €23,267 | €34,168 | €66,244 | ▲ 93.9% |
| Debt charges650 | - | - | - | €16,707 | €55,536 | ▲ 232% |
| Other financial charges652/9 | - | - | - | €17,461 | €10,708 | ▼ 38.7% |
| Profit (loss) for the period before taxes9903 | €1.4m | €1.3m | €1.4m | €3.3m | €2.8m | ▼ 15.2% |
| Income taxes67/77 | €384,532 | €345,184 | €361,002 | €685,163 | €706,899 | ▲ 3.2% |
| Taxes670/3 | - | - | - | €867,981 | €706,899 | ▼ 18.6% |
| Tax adjustments and reversals of tax provisions77 | - | - | - | €182,818 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €1.0m | €938,174 | €1.0m | €2.6m | €2.1m | ▼ 20.0% |
| Profit (loss) for the period to be appropriated9905 | €1.0m | €938,174 | €1.0m | €2.6m | €2.1m | ▼ 20.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €8.7m | €8.7m | €8.0m | €6.8m | €12.2m | ▲ 78.9% |
| Fixed assets21/28 | €590,536 | €523,991 | €451,912 | €373,231 | €440,264 | ▲ 18.0% |
| Intangible fixed assets21 | - | - | - | - | €108,315 | - |
| Tangible fixed assets22/27 | €588,536 | €521,990 | €450,011 | €371,330 | €330,048 | ▼ 11.1% |
| Land and buildings22 | €456,753 | €411,077 | €369,970 | €332,119 | €300,325 | ▼ 9.6% |
| Plant, machinery and equipment23 | €26,933 | €19,034 | €13,222 | €8,189 | €10,944 | ▲ 33.6% |
| Furniture and vehicles24 | €104,850 | €91,879 | €66,820 | €31,022 | €18,779 | ▼ 39.5% |
| Financial fixed assets28 | €2,001 | €2,001 | €1,901 | €1,901 | €1,901 | = |
| Other financial fixed assets284/8 | - | - | - | €1,901 | €1,901 | = |
| Amounts receivable and cash guarantees285/8 | - | - | - | €1,901 | €1,901 | = |
| Current assets29/58 | €8.1m | €8.2m | €7.6m | €6.4m | €11.7m | ▲ 82.5% |
| Stocks and contracts in progress3 | €741,288 | €771,324 | €855,850 | €1.1m | €2.9m | ▲ 157% |
| Stocks30/36 | €741,288 | €771,324 | €855,850 | €1.1m | €2.9m | ▲ 157% |
| Goods purchased for resale34 | - | - | - | €1.1m | €2.9m | ▲ 157% |
| Amounts receivable within one year40/41 | €5.2m | €3.4m | €4.6m | €5.0m | €8.0m | ▲ 62.2% |
| Trade receivables40 | €5.0m | €2.9m | €2.2m | €3.3m | €3.9m | ▲ 19.1% |
| Other amounts receivable41 | €231,536 | €534,024 | €2.4m | €1.6m | €4.1m | ▲ 149% |
| Current investments50/53 | - | €2.1m | €850,000 | €0 | - | - |
| Other investments51/53 | - | - | - | €0 | - | - |
| Cash at bank and in hand54/58 | €2.2m | €1.9m | €1.3m | €344,891 | €661,171 | ▲ 91.7% |
| Deferred charges and accrued income490/1 | - | - | - | - | €142,942 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €8.7m | €8.7m | €8.0m | €6.8m | €12.2m | ▲ 78.9% |
| Equity10/15 | €3.2m | €4.2m | €1.2m | €1.8m | €4.2m | ▲ 139% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €76,000 | ▲ 22.6% |
| Capital10 | €62,000 | €62,000 | €62,000 | €62,000 | €76,000 | ▲ 22.6% |
| Issued capital100 | €62,000 | €62,000 | €62,000 | €62,000 | €76,000 | ▲ 22.6% |
| Reserves13 | €6,200 | €6,200 | €6,200 | €6,200 | €351,288 | ▲ 5,566% |
| Non-distributable reserves130/1 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Distributable reserves133 | - | - | - | - | €345,088 | - |
| Profit (loss) carried forward14 | €3.1m | €4.1m | €1.1m | €1.7m | €3.8m | ▲ 123% |
| Amounts payable17/49 | €5.5m | €4.6m | €6.9m | €5.0m | €7.9m | ▲ 57.9% |
| Amounts payable after more than one year17 | €424,861 | €380,528 | €336,195 | €759,564 | €688,352 | ▼ 9.4% |
| Financial debts170/4 | €424,861 | €380,528 | €336,195 | €759,564 | €688,352 | ▼ 9.4% |
| Credit institutions173 | - | - | - | €759,564 | €688,352 | ▼ 9.4% |
| Amounts payable within one year42/48 | €5.1m | €4.2m | €6.6m | €4.3m | €3.9m | ▼ 8.0% |
| Current portion of amounts payable after more than one year42 | €44,333 | €48,741 | €48,741 | €320,948 | €297,946 | ▼ 7.2% |
| Financial debts43 | - | - | - | - | €250,000 | - |
| Credit institutions430/8 | - | - | - | - | €250,000 | - |
| Trade debts44 | €4.4m | €3.6m | €5.9m | €2.9m | €2.7m | ▼ 7.4% |
| Suppliers440/4 | €4.4m | €3.6m | €5.9m | €2.9m | €2.7m | ▼ 7.4% |
| Taxes, remuneration and social security45 | €610,524 | €599,690 | €631,113 | €836,265 | €645,194 | ▼ 22.8% |
| Taxes450/3 | €570,902 | €475,431 | €516,373 | €761,076 | €538,105 | ▼ 29.3% |
| Remuneration and social security454/9 | €39,622 | €124,259 | €114,741 | €75,189 | €107,089 | ▲ 42.4% |
| Other amounts payable47/48 | €190 | - | - | €180,000 | €18,198 | ▼ 89.9% |
| Accrued charges and deferred income492/3 | - | - | - | - | €3.3m | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1.0m | €938,174 | €1.0m | €2.6m | €2.1m | ▼ 20.0% |
| + Depreciation and write-downs630 | €78,619 | €85,986 | €77,842 | €66,133 | €62,245 | ▼ 5.9% |
| Operating cash flow (approximation) | €1.1m | €1.0m | €1.1m | €2.7m | €2.2m | ▼ 19.6% |
| Investment in fixed assets (approximation) | - | -€19,440 | -€5,764 | €12,548 | -€129,278 | ▼ 1,130% |
| Change in cash | - | -€275,120 | -€589,960 | -€968,889 | €316,280 | ▲ 133% |
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
Next filing, fiscal year 2026, expected by
2026
20-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
12-02
State Gazette act
Capital & shares · RestructuringMerger · Dissolution · Capital8 facts ▸
State Gazette act
Capital & shares · Restructuring
Merger · Dissolution · Capital8 facts ▸
- General meeting, 30-12-2025
- Merger, 23:59:59, 46
- Dissolution, 31-12-2025
- Capital, €76.000
- Share issue, in natura, 46
- Power of attorney, HET FISCAAL ADVIESKANTOOR
- Inbreng in natura, 391273.46, EUR
- Commissaris appointment, 06-10-2025
2025
31-12
Financial
Equity above €2mEq €4.2m ▲139%
8 profitable years in a row build equity to €4.2m.
10-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Highest result since 2018net €2.6m ▲162%
Operating result €3.2m, net result €2.6m, both a record.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 30 days late
2023
07-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 68 days late
2022
28-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 28 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 31 days late
2020
31-12
Financial
Equity above €2mEq €2.2m ▲68.3%
3 profitable years in a row build equity to €2.2m.
11-11
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 103 days late
2019
31-12
Financial
Equity above €1mEq €1.3m ▲97%
2 profitable years in a row build equity to €1.3m.
Show earlier events
27-09
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 58 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 31 days late
2017
28-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 28 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 10 acts read
About the unread acts
Of the 10 Belgian State Gazette acts we know for this company, 1 has been read. The other 9 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
10 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Wingene · 1 establishment unit since 1984
Ground area
1,648 m²
Building footprint
866 m²
Volume, LiDAR
251 m³
Parcel 37019B1104/00A000, Flanders · tallest building 5.4 m. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Flandria 3, 8750 Wingene
since 19842.024.984.668
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37019B1104/00A000 | Flanders | 1,648 m² | 1 · 866 m² | 5.4 m |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Connections & network
No current directors or connected companies found in the register.
Acquisitions and mergers
1 transactionTook over:BMEDI
Capital and shareholders
Capital over the years
- 12-02-2026 Capital stated in the act · 76,000 EUR · 296 shares
Public money · subsidies and aid
Flemish government
2023 to 2025 · 5 entries · 5,448 EUR awarded · 5,449 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 285 EUR | 285 EUR |
| 2024 | 2 | 2,049 EUR | 2,695 EUR |
| 2023 | 2 | 3,114 EUR | 2,469 EUR |
Recognitions · licences · registrations
Food safety, FASFC
1 siteWingene2.024.984.668
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Of 1,902 companies in sector 46460 we hold annual accounts for 1,116. 599 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded20-06-1984
Fiscal year end31-12
Activities, NACEBEL 2025
46460Wholesale of pharmaceutical and medical goods
46450Wholesale of perfume and cosmetics
Scores and ratios are computed by Checked and are not a credit decision.