BOPAS
ActiveSummary
BOPAS has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €36,598 and a net result of €13,017. Equity is shrinking by ~17.1% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability51▲+19
Solvency32▲+2
Growth58=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000 at 30 days acceptable
Liquidity short (current ratio 0.63 against 0.7 in 2024; short-term debt: 11.2% and cash: 3.5% of total assets), and 92.9% 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
7.1%
Return on assets
2.5%
Age of the figures
9 mo
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 30-07-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
on the day
2023
28 d late
2022
2 d late
2021
61 d late
2020
31 d late
2019
55 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 25 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were 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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€36,598▲ 55.2%
2024 · €23,580
Total assets
€518,868▼ 0.1%
2024 · €519,401
Net result
€13,017
2024 · -€10,559
Working capital
-€21,406▼ 2.6%
2024 · -€20,860
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
Operating result€10,801€7,147▼ 33.8%€9,405▲ 31.6%€4,084▼ 56.6%€26,720▲ 554%
Net result-€5,495▲ 69.1%-€8,725▼ 58.8%-€6,037▲ 30.8%-€10,559▼ 74.9%€13,017
Equity€47,907▼ 10.3%€40,176▼ 16.1%€34,139▼ 15.0%€23,580▼ 30.9%€36,598▲ 55.2%
Total assets€551,699▼ 1.0%€537,688▼ 2.5%€531,352▼ 1.2%€519,401▼ 2.2%€518,868▼ 0.1%
Debt€503,791=€497,511▼ 1.2%€497,213▼ 0.1%€495,821▼ 0.3%€482,270▼ 2.7%
Working capital-€56,343▲ 13.9%-€43,125▲ 23.5%-€26,488▲ 38.6%-€20,860▲ 21.2%-€21,406▼ 2.6%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 554% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €518,868
Fixed assets
€482,030 ▲ 2.2%
Current assets
€36,838 ▼ 22.8%
Equity and liabilities €518,868
Equity
€36,598 ▲ 55.2%
Debt
€482,270 ▼ 2.7%
Debt's share of the balance-sheet total falls from 95.5% to 92.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€50,330▲
2024 · €28,500
Cash flow
€36,627▲
2024 · €13,857
Current ratio
0.63▼
2024 · 0.70
Debt to equity
13.18▼
2024 · 21.03
ROE
35.6%▲
2024 · -44.8%
ROA
2.5%▲
2024 · -2.0%
Interest coverage
3.44▲
2024 · 1.88
Debt ≤ 1 year
€58,243▼
2024 · €68,598
Debt > 1 year
€292,255▼
2024 · €305,593
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,214 companies that looked in July 2024 the way this one looks now, 1.2% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency under 10%
- a profit under 5% of the balance sheet
1.2%
went bankrupt
2.6%
stopped otherwise
96%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% 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 1,214 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €22,192 | €24,243 | €24,480 | €24,416 | €23,610 | ▼ 3.3% |
| Other operating charges640/8 | €2,906 | €3,275 | €3,252 | €3,376 | €3,538 | ▲ 4.8% |
| Gross operating margin9900 | €35,898 | €34,665 | €37,136 | €31,876 | €53,868 | ▲ 69.0% |
| Operating profit (loss)9901 | €10,801 | €7,147 | €9,405 | €4,084 | €26,720 | ▲ 554% |
| Financial income75/76B | €0 | - | €59 | €487 | €928 | ▲ 90.7% |
| Recurring financial income75 | €0 | - | €59 | €487 | €928 | ▲ 90.7% |
| Financial charges65/66B | €16,296 | €15,872 | €15,490 | €15,129 | €14,631 | ▼ 3.3% |
| Recurring financial charges65 | €16,296 | €15,872 | €15,490 | €15,129 | €14,631 | ▼ 3.3% |
| Profit (loss) for the period before taxes9903 | -€5,495 | -€8,725 | -€6,026 | -€10,559 | €13,017 | ▲ 223% |
| Income taxes67/77 | €0 | - | €11 | - | - | - |
| Profit (loss) for the period9904 | -€5,495 | -€8,725 | -€6,037 | -€10,559 | €13,017 | ▲ 223% |
| Profit (loss) for the period to be appropriated9905 | -€5,495 | -€8,725 | -€6,037 | -€10,559 | €13,017 | ▲ 223% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €551,699 | €537,688 | €531,352 | €519,401 | €518,868 | ▼ 0.1% |
| Fixed assets21/28 | €535,882 | €512,886 | €488,407 | €471,663 | €482,030 | ▲ 2.2% |
| Tangible fixed assets22/27 | €535,882 | €512,886 | €488,407 | €471,663 | €482,030 | ▲ 2.2% |
| Land and buildings22 | €535,882 | €512,886 | €488,407 | €471,663 | €482,030 | ▲ 2.2% |
| Current assets29/58 | €15,817 | €24,801 | €42,946 | €47,738 | €36,838 | ▼ 22.8% |
| Amounts receivable within one year40/41 | - | - | - | €145 | €276 | ▲ 91.1% |
| Other amounts receivable41 | - | - | - | €145 | €276 | ▲ 91.1% |
| Current investments50/53 | - | - | €25,000 | €38,000 | €18,000 | ▼ 52.6% |
| Cash at bank and in hand54/58 | €15,507 | €23,703 | €17,740 | €7,131 | €18,311 | ▲ 157% |
| Deferred charges and accrued income490/1 | €310 | €1,098 | €206 | €2,462 | €250 | ▼ 89.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €551,699 | €537,688 | €531,352 | €519,401 | €518,868 | ▼ 0.1% |
| Equity10/15 | €47,907 | €40,176 | €34,139 | €23,580 | €36,598 | ▲ 55.2% |
| Contributions10/11 | €226,000 | €226,000 | €226,000 | €226,000 | €226,000 | = |
| Capital10 | €226,000 | €226,000 | €226,000 | €226,000 | €226,000 | = |
| Issued capital100 | €226,000 | €226,000 | €226,000 | €226,000 | €226,000 | = |
| Profit (loss) carried forward14 | -€178,093 | -€185,824 | -€191,861 | -€202,420 | -€189,402 | ▲ 6.4% |
| Amounts payable17/49 | €503,791 | €497,511 | €497,213 | €495,821 | €482,270 | ▼ 2.7% |
| Amounts payable after more than one year17 | €341,356 | €329,495 | €317,160 | €305,593 | €292,255 | ▼ 4.4% |
| Financial debts170/4 | €337,419 | €325,557 | €317,160 | €300,396 | €287,058 | ▼ 4.4% |
| Other amounts payable178/9 | €3,937 | €3,937 | - | €5,197 | €5,197 | = |
| Amounts payable within one year42/48 | €72,159 | €67,926 | €69,434 | €68,598 | €58,243 | ▼ 15.1% |
| Current portion of amounts payable after more than one year42 | €11,407 | €11,862 | €12,335 | €12,827 | €13,338 | ▲ 4.0% |
| Trade debts44 | €4,444 | €3,720 | €5,332 | €3,897 | €2,227 | ▼ 42.8% |
| Suppliers440/4 | €4,444 | €3,720 | €5,332 | €3,897 | €2,227 | ▼ 42.8% |
| Taxes, remuneration and social security45 | - | €214 | - | - | - | - |
| Taxes450/3 | - | €214 | - | - | - | - |
| Other amounts payable47/48 | €56,308 | €52,130 | €51,767 | €51,874 | €42,678 | ▼ 17.7% |
| Accrued charges and deferred income492/3 | €90,276 | €100,090 | €110,619 | €121,630 | €131,772 | ▲ 8.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€5,495 | -€8,725 | -€6,037 | -€10,559 | €13,017 | ▲ 223% |
| + Depreciation and write-downs630 | €22,192 | €24,243 | €24,480 | €24,416 | €23,610 | ▼ 3.3% |
| Operating cash flow (approximation) | €16,697 | €15,518 | €18,443 | €13,857 | €36,627 | ▲ 164% |
| Investment in fixed assets (approximation) | - | -€1,247 | -€0 | -€7,673 | -€33,977 | ▼ 343% |
| Change in cash | - | €8,196 | -€5,963 | -€10,609 | €11,180 | ▲ 205% |
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
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Back to profitnet €13,017
Net result €13,017 after 7 loss-making years.
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 28 days late
2023
02-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 2 days late
2022
30-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 61 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
24-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 55 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
24-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
4 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, Antwerpen · 1 establishment unit since 1988
Ground area
174 m²
Building footprint
128 m²
Volume, LiDAR
788 m³
Parcel 11422C0087/00K013, Flanders · tallest building 9.8 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
BOPAS
since 19882.040.723.117
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11422C0087/00K013 | Flanders | 174 m² | 1 · 128 m² | 9.8 m · 2 fl. |
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.
Identification & contact
Identification
Legal formPublic limited company
Founded02-09-1988
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0435200002
Also
9925:BE0435200002
Registered
26-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.