BOGARDO SYSTEMS
ActiveThe computed 12-month bankruptcy probability of BOGARDO SYSTEMS is 2.9% (moderate). The 2025 annual accounts show equity of €3k and a net result of €-497. Equity is shrinking by ~3.9% per year across the filed fiscal years. Its solvency ranks better than 14% of 27450 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
43
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability67▼-16
Solvency35▼-65
Growth32▼-20
Track record94
Bankruptcy probability, 12 months
2.9%
Moderate
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Liquidity short (current ratio 0.61 against 4.97 in 2024; short-term debt: 89.5% and cash: 13.2% of total assets), and 89.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Sector 43
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
10.5%
Return on assets
-1.5%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 27450 sector peers (2025).
NBB · sector comparisonPosition among 27450 sector peers
Solvency
better than 14%
← weakest
strongest →
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 31-03-2026, 122 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
122 d early
2024
77 d early
2023
116 d early
2022
119 d early
2021
125 d early
← before the deadline
after the deadline →
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
16-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€3k▼ 85.7%
2024 · €24k
2021: €18k
2022: €23k
2023: €21k
2024: €24k
2021 → 2025
Total assets
€33k▲ 12.6%
2024 · €29k
2021: €51k
2022: €41k
2023: €22k
2024: €29k
2021 → 2025
Net result
€-497
2024 · €3k
2021: €15k
2022: €4k
2023: €-2k
2024: €3k
2021 → 2025
Working capital
€-11k
2024 · €20k
2021: €3k
2022: €10k
2023: €14k
2024: €20k
2021 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€18k-€23k▲ 23.4%€21k▼ 9.7%€24k▲ 16.4%€3k▼ 85.7%
Operating result€20k-€6k▼ 72.7%€-2k€5k€233▼ 95.5%
Net result€15k-€4k▼ 72.0%€-2k€3k€-497
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 95% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €33k
Fixed assets
€15k▲ 293%
Current assets
€18k▼ 29.1%
Equity and liabilities €33k
Equity
€3k▼ 85.7%
Debt
€29k▲ 475%
The debt ratio rises from 17.5% to 89.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€4k▼
2024 · €10k
Cash flow
€3k▼
2024 · €8k
Solvency
10.5%▼
2024 · 82.5%
Current ratio
0.61▼
2024 · 4.97
Quick ratio
0.45▼
2024 · 3.41
Debt / equity
8.53▲
2024 · 0.21
ROE
-14.5%▼
2024 · 14.1%
ROA
-1.5%▼
2024 · 11.6%
Interest coverage
7.48▼
2024 · 100.91
Debt
€29k▲
2024 · €5k
Debt ≤ 1 year
€29k▲
2024 · €5k
Income taxes
€322▼
2024 · €2k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€29k€33k▲
Fixed assets21/28€4k€15k▲
Intangible fixed assets21€0-
Tangible fixed assets22/27€4k€15k▲
Plant, machinery and equipment23€1k€701▼
Furniture and vehicles24€2k€4k▲
Other tangible fixed assets26€769€10k▲
Current assets29/58€25k€18k▼
Stocks and contracts in progress3€8k€5k▼
Stocks30/36€8k€5k▼
Amounts receivable within one year40/41€4k€6k▲
Trade receivables40€3k€4k▲
Other amounts receivable41€1k€2k▲
Cash at bank and in hand54/58€11k€4k▼
Deferred charges and accrued income490/1€3k€3k▲
Equity and liabilities
Total equity and liabilities10/49€29k€33k▲
Equity10/15€24k€3k▼
Contributions10/11€3k€3k=
Reserves13€21k€427▼
Distributable reserves133€21k€427▼
Profit (loss) carried forward14-€0
Amounts payable17/49€5k€29k▲
Amounts payable within one year42/48€5k€29k▲
Trade debts44€3k€3k▲
Suppliers440/4€3k€3k▲
Advances received on contracts in progress46€300€300=
Taxes, remuneration and social security45€86€3k▲
Taxes450/3€86€3k▲
Other amounts payable47/48€1k€22k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€5k€3k▼
Other operating charges640/8€709€754▲
Gross operating margin9900€11k€4k▼
Operating profit (loss)9901€5k€233▼
Financial income75/76B€89€83▼
Recurring financial income75€89€83▼
Financial charges65/66B€97€492▲
Recurring financial charges65€97€492▲
Profit (loss) for the period before taxes9903€5k€-175▼
Income taxes67/77€2k€322▼
Profit (loss) for the period9904€3k€-497▼
Profit (loss) for the period to be appropriated9905€3k€-497▼
Appropriation of the result
Profit (loss) to be appropriated9906€3k€-497▼
Transfer from equity791/2€0€20k▲
Transfer to equity691/2€3k€0▼
To other reserves6921€3k€0▼
Profit to be distributed694/7-€20k
Return on contributions (dividend)694-€20k
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
15-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €3k
Net result €3k after one loss-making year.
06-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet €-2k ▼151%
Net result drops to €-2k, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity times 5current ratio 8.54
Current ratio from 1.58 to 8.54; short-term debt falls from €18k to €2k.
03-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
28-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Wichelen · 1 establishment unit since 2021
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Bellekouterlaan 529260 WichelenGround area
238 m²
Building footprint
151 m²
Volume, LiDAR
672 m³
Parcel 42018A0691/00C000, Flanders · tallest building 9.3 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
BOGARDO SYSTEMS
since 20212.317.401.264
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42018A0691/00C000 | Flanders | 238 m² | 1 · 151 m² | 9.3 m · 1 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 9,524 companies in sector 43222 we hold annual accounts for 5,657. 1,157 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded20-05-2021
Fiscal year end31-12
Activities, NACEBEL
43222Installation of electric heating, air conditioning, cooling and ventilation
43211General electrical installation work
43221Plumbing work
43223Specialised construction activities
77110Renting and leasing of cars and light motor vehicles
Sources
Crossroads Bank for EnterprisesNational Bank · 5 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.