BOLAND
ActiveSummary
BOLAND has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €5,219 and a net result of -€761. Equity is shrinking by ~7.2% per year across the filed fiscal years. Its solvency ranks better than 72% of 1235 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability6▲+6
Solvency97▲+14
Growth32=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Liquidity ample (current ratio 3.22 against 2.12 in 2023; short-term debt: 28.3% and cash: 37.4% of total assets), and 28.3% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
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 2024Solvency, return and age of the figures
Solvency
71.7%
Return on assets
-10.5%
Age of the figures
21 mo
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 · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 18
Relative position
BE, all sectors
reference
Printing and reproduction of recorded media (NACE 18)
about 11% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
18192021222324
2018 to 2024 · latest year -€761
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 04-05-2026, 277 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
277 d late
2023
119 d late
2022
92 d late
2021
11 d early
2020
12 d early
2019
9 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 76 days after the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 38% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€5,219▼ 12.7%
2023 · €5,980
Total assets
€7,282▼ 29.4%
2023 · €10,310
Net result
-€761▲ 86.3%
2023 · -€5,559
Working capital
€4,572▼ 5.7%
2023 · €4,849
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 18, Printing and reproduction of recorded media, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€6,673€2,474▼ 62.9%-€2,109-€5,484▼ 160%-€557▲ 89.8%
Net result€6,481within the sector's middle half€1,863within the sector's middle half▼ 71.3%-€2,288within the sector's middle half-€5,559below the sector's middle half▼ 143%-€761within the sector's middle half▲ 86.3%
Equity€11,964within the sector's middle half▲ 155%€13,827within the sector's middle half▲ 15.6%€11,539below the sector's middle half▼ 16.5%€5,980below the sector's middle half▼ 48.2%€5,219below the sector's middle half▼ 12.7%
Total assets€24,239below the sector's middle half▲ 117%€20,751below the sector's middle half▼ 14.4%€22,729below the sector's middle half▲ 9.5%€10,310below the sector's middle half▼ 54.6%€7,282below the sector's middle half▼ 29.4%
Debt€12,275▲ 88.5%€6,924▼ 43.6%€11,190▲ 61.6%€4,330▼ 61.3%€2,063▼ 52.4%
Working capital€9,732▲ 499%€10,324▲ 6.1%€9,347▼ 9.5%€4,849▼ 48.1%€4,572▼ 5.7%
Solvency49.4%within the sector's middle half▲ 7.5pp66.6%within the sector's middle half▲ 17.3pp50.8%within the sector's middle half▼ 15.9pp58.0%within the sector's middle half▲ 7.2pp71.7%within the sector's middle half▲ 13.7pp
above
within
below
the middle half (P25 to P75) of NACE 18, Printing and reproduction of recorded media, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €557 in 2024 against €5,484 in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €7,282
Fixed assets
€647 ▼ 42.8%
Current assets
€6,635 ▼ 27.7%
Equity and liabilities €7,282
Equity
€5,219 ▼ 12.7%
Debt
€2,063 ▼ 52.4%
Debt's share of the balance-sheet total falls from 42.0% to 28.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€73▲
2023 · -€4,423
Cash flow
-€277▲
2023 · -€4,498
Current ratio
3.22▲
2023 · 2.12
Debt to equity
0.40▼
2023 · 0.72
ROE
-14.6%▲
2023 · -93.0%
ROA
-10.5%▲
2023 · -53.9%
Interest coverage
-0.34▲
2023 · -58.97
Debt ≤ 1 year
€2,063▼
2023 · €4,330
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 5,836 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 84% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a loss of 10% of the balance sheet or more
1.5%
went bankrupt
13%
stopped otherwise
84%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% 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 497,662 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% | 1.7% |
| 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 75% 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 5,836 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.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €0 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €827 | €1,148 | €1,311 | €1,061 | €484 | ▼ 54.4% |
| Other operating charges640/8 | - | €502 | €392 | €732 | €387 | ▼ 47.1% |
| Gross operating margin9900 | €8,340 | €4,123 | -€406 | -€3,691 | €314 | ▲ 109% |
| Operating profit (loss)9901 | €6,673 | €2,474 | -€2,109 | -€5,484 | -€557 | ▲ 89.8% |
| Financial income75/76B | - | - | - | - | €10 | - |
| Recurring financial income75 | - | - | - | - | €10 | - |
| Financial charges65/66B | - | €219 | €81 | €75 | €214 | ▲ 185% |
| Recurring financial charges65 | €193 | €219 | €81 | €75 | €214 | ▲ 185% |
| Profit (loss) for the period before taxes9903 | €6,481 | €2,255 | -€2,190 | -€5,559 | -€761 | ▲ 86.3% |
| Income taxes67/77 | - | €392 | €98 | - | - | - |
| Profit (loss) for the period9904 | €6,481 | €1,863 | -€2,288 | -€5,559 | -€761 | ▲ 86.3% |
| Profit (loss) for the period to be appropriated9905 | €6,481 | €1,863 | -€2,288 | -€5,559 | -€761 | ▲ 86.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €24,239 | €20,751 | €22,729 | €10,310 | €7,282 | ▼ 29.4% |
| Fixed assets21/28 | €2,232 | €3,503 | €2,192 | €1,131 | €647 | ▼ 42.8% |
| Tangible fixed assets22/27 | €2,232 | €3,503 | €2,192 | €1,131 | €647 | ▼ 42.8% |
| Plant, machinery and equipment23 | - | €3,503 | €2,192 | €1,131 | €647 | ▼ 42.8% |
| Current assets29/58 | €22,007 | €17,248 | €20,537 | €9,179 | €6,635 | ▼ 27.7% |
| Amounts receivable within one year40/41 | €2,383 | €5,778 | €13,407 | €4,295 | €2,935 | ▼ 31.7% |
| Trade receivables40 | - | €4,605 | €13,407 | €3,977 | €2,935 | ▼ 26.2% |
| Other amounts receivable41 | - | €1,172 | - | €318 | - | - |
| Cash at bank and in hand54/58 | €17,649 | €9,408 | €4,896 | €3,836 | €2,723 | ▼ 29.0% |
| Deferred charges and accrued income490/1 | - | €2,063 | €2,234 | €1,048 | €977 | ▼ 6.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €24,239 | €20,751 | €22,729 | €10,310 | €7,282 | ▼ 29.4% |
| Equity10/15 | €11,964 | €13,827 | €11,539 | €5,980 | €5,219 | ▼ 12.7% |
| Contributions10/11 | - | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Non-distributable reserves130/1 | - | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Reserves not available under the articles1311 | - | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Profit (loss) carried forward14 | -€8,487 | -€6,624 | -€8,912 | -€14,471 | -€15,232 | ▼ 5.3% |
| Amounts payable17/49 | €12,275 | €6,924 | €11,190 | €4,330 | €2,063 | ▼ 52.4% |
| Amounts payable within one year42/48 | €12,275 | €6,924 | €11,190 | €4,330 | €2,063 | ▼ 52.4% |
| Trade debts44 | €5,218 | €3,999 | €9,782 | €3,460 | €541 | ▼ 84.4% |
| Suppliers440/4 | - | €3,999 | €9,782 | €3,460 | €541 | ▼ 84.4% |
| Taxes, remuneration and social security45 | - | €1,711 | €1,408 | €870 | €1,522 | ▲ 74.9% |
| Taxes450/3 | - | €1,711 | €1,408 | €870 | €1,522 | ▲ 74.9% |
| Other amounts payable47/48 | - | €1,215 | - | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,481 | €1,863 | -€2,288 | -€5,559 | -€761 | ▲ 86.3% |
| + Depreciation and write-downs630 | €827 | €1,148 | €1,311 | €1,061 | €484 | ▼ 54.4% |
| Operating cash flow (approximation) | €7,308 | €3,011 | -€977 | -€4,498 | -€277 | ▲ 93.8% |
| Investment in fixed assets (approximation) | - | -€2,419 | €0 | €0 | €0 | - |
| Change in cash | - | -€8,241 | -€4,512 | -€1,060 | -€1,113 | ▼ 5.0% |
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
2026
04-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 277 days late
2024
27-11
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 119 days late
2023
31-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 92 days late
2022
20-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
19-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €6,481
Net result €6,481 after one loss-making year.
22-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Weakest financial yearnet -€5,903
Net result drops to -€5,903, the lowest in the series; recovery starts the following year.
29-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
01-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 1 day late
2017
07-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 7 days late
2016
02-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 2 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Namur · 1 establishment unit since 1999
Ground area
1,684 m²
Building footprint
180 m²
Volume, LiDAR
1,760 m³
2 parcels, Wallonia · tallest building 13.3 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
Rue Jacques Dubois(FW) 9, 5020 Namur
since 19992.093.490.424
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92043G0113/00A000 | Wallonia | 1,024 m² | 1 · 66 m² | 7.8 m · 2 fl. |
| 92043G0111/00A000 | Wallonia | 660 m² | 1 · 114 m² | 13.3 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 1,597 companies in sector 18120 we hold annual accounts for 809. 195 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded09-12-1999
Fiscal year end31-12
Activities, NACEBEL 2025
18120Other printing
18130Pre-press and pre-media services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0468113882
Registered
19-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.