Financials
- Fiscal year
- 2025
- Turnover
- €502.6m
- Loss
- -€32.5m
- Solvency
- 10.8%
Turnover▼ 18.8%
Net result
20192025
BOORTMALT
ActiveSummary
BOORTMALT has been active since 1983 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €89.7m and a net result of -€32.5m. Equity is shrinking by ~3.1% per year across the filed fiscal years. Its solvency ranks better than 24% of 103 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
Activity
Manufacture of beverages
NACE 11060NACE 15970
#1 company by total assets in Belgium, Beverages sector1 site
Size
€502.6mturnover 2025
- Staff
- 73.4 FTE
- Equity
- €89.7m
- Loss
- -€32.5m
Structure
- Parent
- COPAGEST · 99.99%
- Board
- 5 members
- Holdings
- 17
Auditor: Forvis Mazars Réviseurs d’EntreprisesAccounts 82 d early
Why 87- Equity €89.7m (10.8% of total assets)- Loss of €32.5m, the second in a row (FY 2025)+ Size: turnover €502.6m, 73.4 FTE, total assets €829.9m+ Founded in 1983Show the evidence
Checked score
Score 2025
87
/ 100
Excellent
Probability in this band: under 0.55%
Better than 24% of its sector peers (all companies)
Performance against the sector, not lower risk
Financial strength · tick = 2024
Weak
Solvency
36-7
equity 10.8% of total assets
Liquidity
46+20
short-term debt 48.5% · cash 16.4%
Profitability
21-8
return on assets -3.9%
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2024: 0.2%lowest value
12-2024: 0.2%▲ +9.4% vs 11-2024
01-2025: 0.2%● 0.0% vs 12-2024
02-2025: 0.2%● 0.0% vs 01-2025
03-2025: 0.2%● 0.0% vs 02-2025
04-2025: 0.2%● 0.0% vs 03-2025
05-2025: 0.2%● 0.0% vs 04-2025
06-2025: 0.2%● 0.0% vs 05-2025
07-2025: 0.2%● 0.0% vs 06-2025
08-2025: 0.2%▼ -4.0% vs 07-2025
09-2025: 0.2%● 0.0% vs 08-2025
10-2025: 0.2%▲ +4.2% vs 09-2025
11-2025: 0.2%▼ -0.6% vs 10-2025
12-2025: 0.2%▲ +2.9% vs 11-2025highest value
01-2026: 0.2%● 0.0% vs 12-2025highest value
02-2026: 0.2%● 0.0% vs 01-2026highest value
03-2026: 0.2%● 0.0% vs 02-2026highest value
04-2026: 0.2%● 0.0% vs 03-2026highest value
05-2026: 0.2%● 0.0% vs 04-2026highest value
06-2026: 0.2%● 0.0% vs 05-2026highest value
07-2026: 0.2%● 0.0% vs 06-2026highest value
08-2026: 0.2%▼ -3.9% vs 07-2026
09-2026: 0.2%● 0.0% vs 08-2026
10-2026: 0.2%▼ -1.2% vs 09-2026
- Equity €89.7m (10.8% of total assets) raises the probability
- Loss of €32.5m, the second in a row (FY 2025) raises the probability
- Size: turnover €502.6m, 73.4 FTE, total assets €829.9m lowers the probability for this profile
- Founded in 1983 lowers the probability for this profile
Credit up to €7,800,000 at 30 days acceptable
Liquidity ample (current ratio 1.57 against 1.05 in 2024; short-term debt: 48.5% and cash: 16.4% of total assets), but 89.2% of the assets are financed with debt.
How it is calculated
The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (all companies). Better than this share of them on solvency 19%, liquidity 54%, profitability 16%, growth against the median 8%. That is performance, not lower risk; the band itself always comes from the probability.
Bankruptcy probability: model pd-v3.202610021621, computed on 05-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.
Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year -€32.5m
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 103 sector peers (2025).
NBB · sector comparisonPosition among 103 sector peers
Solvency
better than 24%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 10-11-2025, 82 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
82 d early
2024
74 d early
2023
61 d early
2022
28 d early
2021
63 d early
2020
69 d early
2019
67 d early
← 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 63 days before the deadline; the sector median for financial year 2024 is 2 days before the deadline, and 43% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today. Usually files around 29 November (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-06-2026 close05-10-2026 today31-01-2027 deadline
- Resignation: Jean-François Loiseau (director)Appointment: David Henri Marcel Gonin…
- Reappointments: Jean-François Loiseau, Bernard Poncelet BV…Permanent representatives: Bernard Poncelet and…
- Permanent representatives: Anton Nuttens and Thomas…Power of attorney
Key points
- Caution: Result fell in 2025from -€9.8m to -€32.5m ▼ 231% View
- Caution: Among the weakest 5% on net resultsector median €34,060 · 104 companies -€32.5m View
- Controlled by COPAGESTultimately: AXEREAL 99.99% View
- Board changedlatest change 04-08-2026 · 5 in office 2 joined · 1 left View
- Positive: Always filed on timeaccounts within the deadline every year 8 years View
- Caution: 2 loss-making years in a rowloss fiscal year 2025 -€32.5m View
- Flemish supportawarded 2022 - 2025 €1.8m View
By topic
Board & ownership
- Board
- 5 members
- Parent
- COPAGEST · 99.99%
- Auditor
- Forvis Mazars Réviseurs d’Entreprises
Go to Board & ownership
Network & group
- Group
- AXEREAL
- Subsidiaries
- 16
- Holdings
- 17
- Connected companies
- 3
17 holdings
Timeline
- Events
- 40
- Since
- 2005
- Next accounts
- by 31-01-2027
- 04-08-2026Resignation: Jean-François Loiseau (director)
- 04-02-2026Reappointments: Jean-François Loiseau, Bernard Poncelet BV and…
- 15-12-2025Permanent representatives: Anton Nuttens and Thomas VERHAMME
Company details
- Sites
- 1
- Legal form
- Public limited company
- Activity
- Manufacture of beveragesNACE 11060
- Founded
- 21-12-1983
- Year ends
- 30-06
- Peppol
- Reachable for e-invoices
Articles of association
- Provisions read
- 3
- Purpose
- De fabricage van en de handel in mout en derivaten en, in het algemeen, alle producten die…
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