BOLLAERT
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 29-04-2026 PDF all 33 filings
Turnover
≈ €39,000
Estimated: probably between €25,000 and €75,000
Total assets
€113,000▲ 1.5%
2024 · €111,303
Net result
€5,066▼ 62.2%
2024 · €13,420
Working capital
€110,227▲ 4.8%
2024 · €105,161
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€4,695
▼ 68.2%
2025
20192025
Net result
€5,066
▼ 62.2%
2025
middle half of the sector
20192025
Equity
€110,227
▲ 4.8%
2025
middle half of the sector
20192025
Total assets
€113,000
▲ 1.5%
2025
middle half of the sector
20192025
Debt
€2,773
▼ 54.9%
2025
20192025
Working capital
€110,227
▲ 4.8%
2025
highest quarter of the sector
20192025
Solvency
97.5%
▲ 3.1pp
2025
highest quarter of the sector
20192025
Current ratio
40.76
▲ 22.63
2025
highest quarter of the sector
20192025
Return on assets (ROA)
4.5%
▼ 7.6pp
2025
middle half of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€605-€640▲ 5.8%€567▼ 11.4%-€7,025€23,925€14,742▼ 38.4%€4,695▼ 68.2%
Net result€534-€208below the sector's middle half▼ 61.1%€34below the sector's middle half▼ 83.8%-€7,096below the sector's middle half€18,003within the sector's middle half€13,420within the sector's middle half▼ 25.5%€5,066within the sector's middle half▼ 62.2%
Equity€80,592-€80,800within the sector's middle half▲ 0.3%€80,834within the sector's middle half=€73,738within the sector's middle half▼ 8.8%€91,741within the sector's middle half▲ 24.4%€105,161within the sector's middle half▲ 14.6%€110,227within the sector's middle half▲ 4.8%
Total assets€81,373-€80,800within the sector's middle half▼ 0.7%€81,244within the sector's middle half▲ 0.5%€74,148within the sector's middle half▼ 8.7%€98,293within the sector's middle half▲ 32.6%€111,303within the sector's middle half▲ 13.2%€113,000within the sector's middle half▲ 1.5%
Debt€781-€410€410=€6,552▲ 16×€6,142▼ 6.3%€2,773▼ 54.9%
Working capital€80,592-€80,834above the sector's middle half€73,738above the sector's middle half▼ 8.8%€91,741above the sector's middle half▲ 24.4%€105,161above the sector's middle half▲ 14.6%€110,227above the sector's middle half▲ 4.8%
Solvency99.0%-100.0%above the sector's middle half▲ 1.0pp99.5%above the sector's middle half▼ 0.5pp99.4%above the sector's middle half=93.3%above the sector's middle half▼ 6.1pp94.5%above the sector's middle half▲ 1.1pp97.5%above the sector's middle half▲ 3.1pp
Current ratio15.00above the sector's middle half18.12above the sector's middle half▲ 3.1240.76above the sector's middle half▲ 22.63
Return on assets (ROA)0.7%-0.3%below the sector's middle half▼ 0.4pp0.0%below the sector's middle half▼ 0.2pp-9.6%below the sector's middle half▼ 9.6pp18.3%above the sector's middle half▲ 27.9pp12.1%within the sector's middle half▼ 6.3pp4.5%within the sector's middle half▼ 7.6pp
above
within
below
The sector band is the middle half of the companies in Services to buildings and landscape activities (NACE 81). 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 2025 is 68% lower than in 2024. It is the second fall in a row.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €113,000
Equity
€110,227 ▲ 4.8%
Debt
€2,773 ▼ 54.9%
Debt's share of the balance-sheet total falls from 5.5% to 2.5%. Equity is higher and debt is lower.
Key figures and ratios
Debt to equity
0.03▼
2024 · 0.06
ROE
4.6%▼
2024 · 12.8%
Debt ≤ 1 year
€2,773▼
2024 · €6,142
Income taxes
€2,498▼
2024 · €4,393
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €826 | €7,070 | - | - | - |
| Other operating charges640/8 | - | - | €1,716 | €1,548 | €348 | €599 | €545 | ▼ 8.9% |
| Non-recurring operating charges66A | - | - | - | - | €132 | - | - | - |
| Gross operating margin9900 | €2,713 | €1,950 | €2,284 | -€5,477 | €24,404 | €15,340 | €5,240 | ▼ 65.8% |
| Operating profit (loss)9901 | €605 | €640 | €567 | -€7,025 | €23,925 | €14,742 | €4,695 | ▼ 68.2% |
| Financial income75/76B | - | - | - | - | €892 | €3,110 | €2,915 | ▼ 6.3% |
| Recurring financial income75 | - | - | - | - | €892 | €3,110 | €2,915 | ▼ 6.3% |
| Financial charges65/66B | - | - | €30 | €71 | €39 | €39 | €45 | ▲ 16.1% |
| Recurring financial charges65 | €71 | €26 | €30 | €71 | €39 | €39 | €45 | ▲ 16.1% |
| Profit (loss) for the period before taxes9903 | €534 | €614 | €537 | -€7,096 | €24,778 | €17,813 | €7,565 | ▼ 57.5% |
| Income taxes67/77 | - | €406 | €504 | - | €6,775 | €4,393 | €2,498 | ▼ 43.1% |
| Profit (loss) for the period9904 | €534 | €208 | €34 | -€7,096 | €18,003 | €13,420 | €5,066 | ▼ 62.2% |
| Profit (loss) for the period to be appropriated9905 | €534 | €208 | €34 | -€7,096 | €18,003 | €13,420 | €5,066 | ▼ 62.2% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €81,373 | €80,800 | €81,244 | €74,148 | €98,293 | €111,303 | €113,000 | ▲ 1.5% |
| Current assets29/58 | €81,373 | €80,800 | €81,244 | €74,148 | €98,293 | €111,303 | €113,000 | ▲ 1.5% |
| Stocks and contracts in progress3 | - | - | - | €1,886 | - | - | - | - |
| Stocks30/36 | - | - | - | €1,886 | - | - | - | - |
| Amounts receivable within one year40/41 | €79,905 | €66,057 | €68,182 | €67,383 | €69,021 | €67,384 | €65,118 | ▼ 3.4% |
| Trade receivables40 | - | - | €14,464 | €19,976 | €16,694 | €16,450 | €11,660 | ▼ 29.1% |
| Other amounts receivable41 | - | - | €53,718 | €47,407 | €52,327 | €50,934 | €53,458 | ▲ 5.0% |
| Cash at bank and in hand54/58 | €1,469 | €14,744 | €13,062 | €4,879 | €29,272 | €43,919 | €47,882 | ▲ 9.0% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €81,373 | €80,800 | €81,244 | €74,148 | €98,293 | €111,303 | €113,000 | ▲ 1.5% |
| Equity10/15 | €80,592 | €80,800 | €80,834 | €73,738 | €91,741 | €105,161 | €110,227 | ▲ 4.8% |
| Contributions10/11 | €20,000 | - | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Contributions outside capital11 | - | - | €20,000 | - | - | - | - | - |
| Other1109/19 | - | - | €20,000 | - | - | - | - | - |
| Reserves13 | €67,565 | €67,565 | €67,565 | €67,565 | €71,638 | €84,938 | €89,938 | ▲ 5.9% |
| Non-distributable reserves130/1 | - | - | €1,859 | €1,859 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | €1,859 | €1,859 | - | - | - | - |
| Distributable reserves133 | - | - | €65,706 | €65,706 | €71,638 | €84,938 | €89,938 | ▲ 5.9% |
| Profit (loss) carried forward14 | -€6,973 | -€6,765 | -€6,731 | -€13,827 | €103 | €222 | €289 | ▲ 29.9% |
| Amounts payable17/49 | €781 | - | €410 | €410 | €6,552 | €6,142 | €2,773 | ▼ 54.9% |
| Amounts payable within one year42/48 | €781 | - | €410 | €410 | €6,552 | €6,142 | €2,773 | ▼ 54.9% |
| Trade debts44 | €781 | - | €410 | €410 | €12 | €12 | - | - |
| Suppliers440/4 | - | - | €410 | €410 | €12 | €12 | - | - |
| Taxes, remuneration and social security45 | - | - | - | - | €6,540 | €6,130 | €2,773 | ▼ 54.8% |
| Taxes450/3 | - | - | - | - | €6,540 | €6,130 | €2,773 | ▼ 54.8% |
| Accrued charges and deferred income492/3 | - | - | - | €0 | - | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €534 | €208 | €34 | -€7,096 | €18,003 | €13,420 | €5,066 | ▼ 62.2% |
| Operating cash flow (approximation) | €534 | €208 | €34 | -€7,096 | €18,003 | €13,420 | €5,066 | ▼ 62.2% |
| Change in cash | - | €13,275 | -€1,681 | -€8,183 | €24,393 | €14,647 | €3,963 | ▼ 72.9% |
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, 17,041 companies had the same profile as BOLLAERT has now. Two years later, 94.3% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
94.3%
was still going
4.9%
stopped otherwise
0.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of BOLLAERT itself: 0.2% 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 17,041 companies, not a prediction for BOLLAERT. 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 33 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 29-04-2026 | 2026-00103607 | |
| 30-09-2024 | micro format | 30-06-2025 | 2025-00199338 | |
| 30-09-2023 | micro format | 31-05-2024 | 2024-00103214 | |
| 30-09-2022 | micro format | 31-05-2023 | 2023-00099973 | |
| 30-09-2021 | micro format | 25-04-2022 | 2022-20008152 | |
| 30-09-2020 | micro format | 23-07-2021 | 2021-39700028 | |
| 30-09-2019 | micro format | 26-10-2020 | 2020-63500083 | |
| 30-09-2018 | micro format | 28-06-2019 | 2019-24600070 | |
| 30-09-2017 | abbreviated format | 30-05-2018 | 2018-15600056 | |
| 30-09-2016 | abbreviated format | 29-08-2017 | 2017-53300572 |